Volkswagen Plans $1.45 Billion Renewables Investment
The German business daily said that Volkswagen is looking into buying shares in at least two offshore wind farms and may announce a partnership with windfarm developer WindReich by the end of 2011, Reuters reports.
The news comes after the company announced an investment in renewable energy worth 600 million Euros in June, Reuters says. A spokeswoman for Volkswagen confirmed to the newswire that the company was in talks about acquiring a stake in offshore windfarms.
In August last year news emerged that the car company was planning to use methane from a closed landfill in Tennessee to power an assembly plant. Under the plan, gas from the landfill in Chattanooga, Tenn., would supply up to 2 MW of power a year to the facility.
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