This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Construction Completed On Germany’s First Privately-Financed Offshore Wind Farm, Meerwind Süd│Ost

Stocks in this article: BX

WindMW GmbH (“WindMW”), a joint-venture of Blackstone Energy Partners, Blackstone’s (NYSE:BX) energy-focused private equity business, and Windland Energieerzeugungs GmbH, today announced the completion of Meerwind Süd │Ost, a 288 Megawatt (MW) offshore wind farm located in the German North Sea.

Within the last day, WindMW installed its 80 th and final offshore turbine and completed the installation of Meerwind’s 3,500-tonne offshore converter substation. Construction of Meerwind began in 2012 and was completed on schedule within 18 months.

Jens Assheuer, CEO of WindMW said: “I would like to thank the project’s investors, staff, suppliers and other stakeholders for their significant commitment and support. The completion of the project on schedule and at the highest quality standards is a result of the contributions of all parties involved.”

The 288 MW project will produce enough clean power to service approximately 360,000 households and will help Germany eliminate approximately one million tons of carbon emissions per year. Meerwind was the first German offshore wind project to be fully financed by private investors, was the largest German offshore wind farm to achieve a full financial closing, and was the first to close under Germany’s KfW financing program, which is focused on helping Germany meet its renewable energy targets by providing debt financing to greenfield energy projects.

Sean Klimczak, Senior Managing Director at Blackstone said: “We are very pleased to have reached this important project milestone, bringing Germany one step closer to meeting its green energy targets. Together with our partners, we would like to thank our suppliers and their hard-working teams for their efforts to make our project vision a reality."

A total of EUR 1.2 billion was invested in the construction of the wind farm Meerwind Süd│Ost, which is situated 23 kilometers north of Helgoland, Germany.

About Blackstone Energy Partners:

Blackstone Energy Partners is Blackstone’s energy-focused private equity business, with a successful record built on Blackstone’s industry expertise and partnerships with exceptional management teams. Since its founding in 2012, Blackstone Energy Partners has invested more than $6.6 billion of equity across 18 transactions globally, which range from oil and gas to renewables, natural resources, and power generation.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs