The Chief Executive Officer of the largest energy company operating in the country of Germany – Innogy has announced that the company will closely monitor as well as handle the costs tightly when it comes to wind power sector projects that are going to be undertaken soon by the company.
This announcement was made by Innogy 2 weeks after the announcement that was made by the company’s smaller peer and partner, EnBW. EnBW said that in the upcoming months, it is planning to build offshore wind energy parks. In addition to this, the company also stated that they will be bearing all the major expenditure in the setting up of the plant and its successful installation and will not be making use of any subsidy that will be provided by the state.
The pioneer of the energy sector in Germany, Innogy functions and operates under the able guidance, instructions and management of Peter Terium who holds the position as the Chief Executive Officer of Innogy. A meeting of the annual shareholder group was held on Monday where Peter Terium said that the company under no circumstance will go forth on a project at any price available. The dedicated team of the company will carry out extensive research and will weigh the merits as well as demerits of every investment that will be available to them and make sure that the deal is economically viable and suitable for them in terms of profits.
On the other hand, the smaller peer of Innogy had said during the starting of the month that it acquired an approval for an offshore park for harnessing power from wind energy. The capacity of this wind park is somewhere around 900 Megawatts. The wind park has been given the name He Dreiht. It is located in the region around the North Sea.
The sources who had knowledge on this matter said that the process of the first public auction that took place in Germany was a part of this deal. The sources also stated that the bids for the installation and development of this project were not inclusive of any of the subsidies that are being provided by the states so that a large number of people can get attracted by the schemes and make use of renewable and alternative sources of energy. This will boost the economic sector of the country along with providing respite to the ecological disturbances that have been occurring in the nature and environment owing to factors like over-consumption, mismanagement and lack of the replenishment of natural resources.