Danish firm wins offshore wind deals, sans govt subsidy

London

EUROPEAN governments have spent large sums of money in recent years subsidising giant offshore wind projects in hopes of creating a clean source of energy that could eventually pay for itself. Now that moment may be here - and a lot sooner than expected.

On Thursday, the Danish company Dong Energy, the largest offshore wind developer, won the right to build two large wind projects in the German North Sea with no government subsidies - a highly symbolic first for the industry.