Germany OKs Law To Cost-Split Offshore Wind Development

Law360, New York (August 29, 2012, 3:45 PM EDT) -- Germany's federal government on Wednesday approved a draft law that will provide a cost-liability cushion to offshore wind power developers in a bid to speed up a pivotal piece of the country's ambitious shift toward renewables and away from nuclear power.

The legislation, set to go into effect later this year, passes off a portion of the costs associated with at-sea wind developments to consumers, insulating hesitant investors and energy companies from shouldering the entire financial risk of a project.

“The energy change is a project...
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