CIG has learned that according to the managing director of the Blackstone Group LP private equity subsidiary WindMW, a lawsuit against the firms North Sea project which was brought in early 2008 has recently been withdrawn paving the way for the “Meerwind”
"The lawsuit has been withdrawn," the MD told reports regarding the legal battle that had delayed the project by over six months, adding that based on current plans all eighty systems would be on the grid by 2013.
The ambitious project is designed to have an installed capacity of 400 MW (megawatts) of electricity CIG was informed.
The wind farm will be another project in the rapidly increasing number aiming to cash in on the bludgeoning European renewable energy market and the renewables subsidies.
CIG has learned from sources with knowledge of the project that it will be constructed over an area of forty square kilometres roughly eighty kilometres north of Germany in the North Sea.
Germany has pledged, under the Copenhagen Accord of December last year, to reduce emissions of greenhouse gasses responsible for global warming and climate change by 40% by 2020 from 1990 levels, and currently relies on renewable energy for around 19% of its total.
