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
Takata Corp. will file for bankruptcy protection on Monday as the Japanese airbag maker seeks protection from creditors following billions of dollars in liabilities linked to a massive global recall of defective air bags, Reuters reported Thursday, citing two sources. Troubled mortgage lender Home Capital Group Inc. (HCG.TO) is hoping for a new lease of life with Warren buffet extending a helping hand by way of C$2 billion or $1.5 billion line of credit to its subsidiary Home Trust Co. The credit from the renowned investor will help end the strategic review of the lender and to settle a loan facility from an institutional investor. Cable company Altice USA Inc. increased Wednesday the number of shares it will sell in its initial public offering by 37%, raising around $1.9 billion. In the IPO, the company offered 63.94 million shares at a price of $30 per share, higher than the 46.6 million shares announced last month.
comments powered by Disqus
Follow RTT