Delays ‘seriously jeopardise’ profitability of RWE’s offshore wind farm

Peter Terium, incoming CEO of RWE AG (RWE:Xetra), told Der Spiegel that RWE was seeking compensation from the federal government because its Nordsee Ost offshore wind farm project continues to face “massive delays“, reports Reuters.

Efforts to link RWE’s Nordsee Ost wind farm in northwestern Germany to the main electricity network keeps running behind schedule, Terium told the magazine in an interview, despite talks with TenneT, the grid operator.

“This seriously jeopardises the profitability of the wind farm,” Terium said, urging the German government to enter talks with investors to discuss compensation and other measures to solve the problems.

“The German offshore plans won’t be attainable by the year 2020 if that doesn’t happen,” Terium warned.

Offshore wind farms are a key element of the federal government’s ‘Energiewende‘ plan that will see the country switch from nuclear power to renewable energy in the wake of last year’s Fukushima disaster in Japan.

Terium is due to take the helm at RWE, Germany’s second-biggest utility, on 1 July.

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