RWE Delays Nordsee Offshore Project

GALWAY, IRELAND--July 31, 2012 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) RWE AG (OTC:RWEOY) (Essen, Germany) has postponed its first German offshore wind project blaming uncertainty over ongoing grid connection issues with the government.

A decision on the 295-megawatt (MW) Innogy Nordsee 1 Windfarm was expected this year but the German energy giant has now pushed it back until sometime in 2013, claiming it is waiting for the government to introduce legislation that will guarantee compensation for energy companies if there is a delay in connecting windfarms to the electricity grid.