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E.ON, Dong Close to Buying Shell London Array Stake

Bloomberg

 

 

E.ON, Dong Close to Buying Shell London Array Stake, Welt Says 

By Stefanie Haxel

July 18 (Bloomberg) — E.ON AG and its Danish partner Dong Energy A/S are close to buying Royal Dutch Shell Plc‘s 33 percent stake in the London Array wind farm, Die Welt reported, citing unidentified people with knowledge of the matter.

The two companies will probably pay a “higher three-digit million euro” amount and a final decision is expected within the coming days, the newspaper said. Shell announced in May it plans to sell its holding in the venture, according to Welt. With the purchase, E.ON and Dong would raise their stakes to 50 percent each from 33 percent now, the newspaper reported.

The world’s largest offshore wind park, located off the British coast, is expected to reach a capacity of 1 gigawatt and could provide electricity to a quarter of the city of London, the newspaper said.

To contact the reporter on this story: Stefanie Haxel in Frankfurt at[email protected].

Last Updated: July 18, 2008 01:53 EDT

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