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RWE halts 3 bln euro offshore wind project - paper
July 25, 2012 / 6:32 AM / 5 years ago

RWE halts 3 bln euro offshore wind project - paper

FRANKFURT, July 25 (Reuters) - German utility RWE has postponed an investment decision on a 3 billion euro ($3.6 billion) offshore wind farm in the North Sea to early next year because the liability rules are unclear, German newspaper Handelsbatt reported on Wednesday.

RWE had planned to start the project, dubbed "Innogy Nordsee 1", in the second half of this year, RWE Innogy executive Hans Buenting told the paper.

"The final decision will take at least until early 2013," he was quoted as saying.

Like E.ON and peer EnBW, RWE has been hit hard by the German government's decision to phase out nuclear power generation, forcing it to reinvent itself by shedding assets and tapping new growth areas such as renewable power. ($1 = 0.8275 euros) (Reporting by Harro ten Wolde; Editing by David Holmes)

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