Volkswagen to invest $1.4 billion in offshore wind farms, other sources of renewable energy

Volkswagen to invest $1.4 billion in offshore wind farms, other sources of renewable energy:

Filed under: Etc., Solar, Volkswagen, Europe/EU

Volkswagen is getting ready to open its pocketbook in a thunderous way. Financial Times Deutschland reports that VW will turn its eye for renewable energy to the sea, wind and sun, joining in on VW group partner Audi's ongoing renewable energy projects.



VW will reportedly dish out two billion euros ($1.4 billion U.S. at the current exchange rate) over the next two years to get more involved with renewable energy. FTD reports that VW will seek out and secure a, "partner for ecological power generation" by year's end and will detail its grand renewable energy plan in the near future.



It's believed that much of VW's renewable energy work will focus on offshore wind farms in the North Sea, with some money set aside for solar and hydropower. This investment should lead to electric automobiles becoming a bit closer to true "zero-emissions" vehicles in some areas of Europe. The timing is good for VW, so, since its electric vehicles won't be here for a few years.

Volkswagen to invest $1.4 billion in offshore wind farms, other sources of renewable energy originally appeared on AutoblogGreen on Sun, 28 Aug 2011 12:42:00 EST. Please see our terms for use of feeds.

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