Updated Wednesday, July 23, 2008 0:00 am TWN, AP

E.On, Dong Energy buy stake in windfarm

LONDON -- Energy company E.On and Danish utility group Dong Energy will buy Royal Dutch Shell PLC’s stake in what will be the world’s biggest windfarm for an undisclosed sum. E.On’s UK chief executive Paul Golby said Monday the two companies will become equal partners in the London Array project. Germany’s E.On and Dong Energy had joined Shell to build 341 wind turbines on offshore platforms where the Thames River meets the North Sea 60 miles (96 kilometers) outside London. It should power a quarter of London homes.

Shell said in May that it would sell its 33 percent shareholding in the project. The windfarm will cost 2.5 billion pounds (US$5 billion) and will help Britain meet government targets of generating 10 percent of electricity from renewable sources by 2010.

 

 

 

 

 

 

 

 

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