TOKYO -- Japanese trading house Itochu and Chinese state-run conglomerate Citic Group will invest several hundred million dollars in a German offshore wind farm, aiming to glean knowledge for use in future projects.
Itochu and Citic, a Hong Kong-based subsidiary of Citic Group, will acquire just over 20% of the operator of the Butendiek wind farm in the North Sea off the German coast. The two companies plan to buy the shares from a European investment fund as early as February, with both to contribute equal amounts. They will earn dividend income from the investment.
