German Global Tech wind park to start operations earlier - report

Nov 7, 2012 – German power grid operator Tennet Tso GmbH told Handelsblatt that offshore Global Tech wind park will provide electricity sooner than expected as it will be connected to an existing ABB (VTX:ABBN, STO:ABB) converter platform, the daily reported yesterday.

The wind park will be connected to the platform of the Swiss-Swedish engineering group as the original partner, German engineering group Siemens (ETR:SIE), would be able to deliver the platform a year later than planned.

Global Tech is located in the German part of the North Sea and is expected to supply one million people with electricity.

The connection of offshore wind farms has brought many problems to Siemens, which have incurred losses of EUR 500,000 (USD 638,000) from the business so far. Exact numbers will be known this Thursday when the company will present its fourth quarter figures.

(EUR 1.00 = USD 1.27)

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