Germany

Germany

Global Tech 1 opens up to private investors

GERMANY: Offshore developer Windreich has opened the door to investment by private individuals in its Global Tech 1 offshore wind project, currently under construction in the North Sea.

Converter platform for Global Tech 1 project, now attracting private investors
Converter platform for Global Tech 1 project, now attracting private investors

Individuals living in the parish of Wolfschlugen, where with Windreich is headquartered, have founded a company that has taken stakes in the Global Tech 1 project company. The idea apparently emerged after a parishioner's visit to the offshore wind farm.

The view of one of the investors, controversial against the background of the debate over the pros and cons of offshore and onshore wind in Germany, is cited as: "Before we search desperately in low-wind southern Germany for non-existent wind potential, we prefer to invest in the German North Sea with returns on investment exceeding 10%. That is the intelligent contribution of our parish to the German Energiewende."


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