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Siemens to Invest $264 million in British Wind Turbine Project

Prime Minister David Cameron (left) and Michael Suess, CEO of Siemens Energy, toured a dock in Hull, England.Christopher Furlong /Getty Images

NEW YORK — Siemens, the German power and industrial giant, said it will build facilities for offshore wind turbines on England’s east coast.

Siemens plans to invest about $264 million. Its partner, Associated British Ports, owned by a group of investors including Goldman Sachs, will contribute about $248 million.

The decision recognizes Britain’s position as the leading market for offshore wind. Rosy prospects for offshore energy in Britain, bolstered by government subsidies, led Siemens to favor major operations in the country over servicing British wind farms from Denmark, where Siemens makes turbines, said Markus Tacke, chief executive of Siemens’s wind energy unit. The company has two factories in Denmark as well as service businesses in Germany.

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Tacke said the company chose the Hull area of England because it is close to other large offshore projects planned in Britain. A new plant, in Paull, England, is expected to begin producing turbine rotor blades in 2016. The plant and the associated service center, in Green Port Hull nearby, will employ about 1,000 people.

The facilities will mainly serve the British market.

New York Times