Mitsubishi invests $770mln in German offshore wind farmsJanuary 16, 2013 - 14:49 AMT PanARMENIAN.Net - Japan's Mitsubishi is investing €576 million ($770 million) in developing German offshore wind farms. Netherlands-based grid operator Tennet said Wednesday, Jan 16, that Mitsubishi will take a 49 percent stake in the €2.9 billion high-voltage cables linking four offshore farms to the German grid. The four plants have a total production capacity of 2.8 gigawatts, more than two average nuclear reactors. Linking the wind farms, some of which are more than 100 kilometers (60 miles) offshore, to electrical grids is costly. Tennet needs to invest a total of €5.8 billion to connect ten offshore wind farms, and has been struggling to finance the grid expansion. Germany is phasing out nuclear power by 2022 in favor of renewable energies instead, and offshore wind is expected to become one of the main energy sources. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |