filed: August 31, 2011 • Netherlands

German wind turbine maker pulls out of offshore wind park

Credit: www.dutchnews.nl 31 August 2011 ~~

Controversial German wind turbine maker Bard has pulled out of a project to build the Netherlands’ biggest offshore wind park, the Financieele Dagblad reports on Wednesday.

Bard beat Dutch energy firms Nuon and Eneco to the contract to build the wind park off the coast of the Wadden Sea island of Schiermonnikoog last year. The project has been allocated up to €4.4bn in government subsidies.

Amsterdam investment company Typhoon, which is arranging the project’s financing, hopes the withdrawal of Bard will make it easier to find other investors to take part.

However, the paper says, no Dutch energy firms are interested. Nuon, for example, is hoping to build its own wind park off the coast at Katwijk.

Typhoon director Michael van der Heijden told the paper more news about the financing will be finalised in the next two weeks.

Alkmaar-based public utility company HVC is the only remaining shareholder, with a 15% stake in the park and does not plan to expand its interest, the paper states.

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