logo
Share SHARE
FONT-SIZE Plus   Neg

Ventizz, HOCHTIEF Set Up JV For Offshore Wind Farms - Quick Facts

Ventizz Capital Partners and HOCHTIEF Solutions (HOCFF.PK) have set up a joint venture for the offshore wind farms development, with economic effect from February 1, 2012. The two partners, each holding a 50% interest in the company named HOCHTIEF Offshore Development Solutions S..r.l., are aiming to tap further earnings potential in the high-growth market for offshore wind energy. Plans include, for example, to buy and develop wind farm concessions and capitalize on the resulting value growth by selling them on before construction begins.

The new joint venture would concentrate on readying the subsequent construction of the wind farms in a way that significantly reduces the risk of cost overruns and delays. Thus, the joint venture would help advance the German government's target of 10,000 megawatts of installed capacity in the German offshore wind power market by 2020.

Following the project development closure, wind park concessions would be sold to the future operators such as energy suppliers and public utilities, financial investors and, in increasing numbers, large industrial companies, the company added.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
French car maker Renault SA reported Friday higher profit in its fiscal 2015, with strong growth in automotive profit and revenues. The company announced higher dividend. Looking ahead, for fiscal 2016, Renault expects to increase group revenues at constant exchange rates and improve group operating margin. Shares of Rolls-Royce Holdings Plc were gaining around 13 percent in the morning trading in London after the engine maker reported more-than doubled profit in its fiscal year 2015, with lower one-time items. Underlying earnings were hurt by weakness in Marine markets. Further, the company halved its dividends, and still expects lower revenues next year. German steel giant ThyssenKrupp AG reported a loss in its first quarter, compared to last year's profit as sales and orders were hurt by sharp deterioration in materials businesses. The company said its overall performance in the first quarter was within its full-year forecast corridor. Looking ahead, the company continues to expect higher net income and flat sales for fiscal 2016.
comments powered by Disqus
Follow RTT