German construction giant Hochtief in offshore wind venture

Hochtief – Germany’s biggest construction company – has formed a joint-venture with private equity group Ventizz Capital Partners to develop offshore wind projects.

The 50/50 joint-venture company – called Hochtief Offshore Development Solutions (HODS) – will focus on the German market as the country prepares to add 10GW of offshore wind capacity by 2020, says a statement from the partners.

Hochtief – which claims to be the world’s eighth-largest building group with annual sales of €20bn ($26.3bn) – already provides construction and logistics services to the offshore sector in Germany, but wants to extend its role into the early-stage development arena.

HODS “does not aim to build and operate wind farms itself. Instead, it plans to Log in to read complete article.

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