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RWE delays 3 billion euro offshore wind project

Wed, 07/25/2012 - 2:24am
Reuters

FRANKFURT (Reuters) - German utility RWE has postponed an investment decision on a 3 billion euro ($3.6 billion) offshore wind farm in the North Sea until next year, blaming a lack of clarity over legal liabilities for such projects.

RWE had planned to start the project, dubbed "Innogy Nordsee 1", in the second half of this year, but said on Wednesday the final decision would now take until at least early 2013.

German newspaper Handelsbatt earlier reported the delay, citing an interview with Hans Buenting, chief executive of RWE's renewable unit Innogy.

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