Volkswagen Pumps in $1.4 billion in Wind Initiatives

August 29, 2011 / No Comments

Gearing up to meet the looming energy crisis, Volkswagen has come up with a $1.4-billion investment in the field of renewable energy resources like sea, wind and sun. The company has joined hands with Audi’s ongoing renewable energy projects in the VW group of partners.

wind turbine1 Volkswagen Pumps in $1.4 billion in Wind Initiatives

The company, with this two-year investment, is looking for a partner in ecological power generation by this year-end and wants to implement more plans in the renewable energy field in the approaching years.

Volkswagen is now interested in the wind farms, thereby providing a possible breakthrough for the wind industry. The industry was suffering from setbacks, as there was a lack of investors for the construction of wind farms.

The high-risk involvement and electricity network problems are some of the factors that pulled back the investors. They want the green electricity to reduce the carbon dioxide exhausts in the cars.

They are also interested in bringing up of electrically powered vehicles as an additional business. This step makes closer to the true “zero-emissions” vehicles in some areas of Europe.

In the first step in expanding the company’s new project, a park named German Bight is planned to build around 2014. The turbines from the French manufacturer Areva can produce 210 megawatts that is, about one-fifth from a nuclear power plant. This project is lead by VW Kraftwerk GmbH.

It seems that the company is focusing more on the offshore wind farms in the North Sea, along with the solar and hydroelectric power generation. We have to wait for few years to see VW’s electric cars on the roads.