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EON, Dong buy Shell stake in British wind farm

EON, Dong buy Shell stake in British wind farm

FRANKFURT (AFP) — The biggest German power group, EON, and Dong Energy of Denmark have bought additional stakes in the London Array wind park from the Anglo-Dutch energy company Shell, an EON statement said Monday.

EON and Dong will own the world’s biggest offshore installation equally, the statement said, without providing financial details.

The wind farm is being built more than 20 kilometres (12 miles) off the Kent and Essex coasts, with a four-year plan expected to install up to 341 turbines, according to the London Array website.

When fully complete it would generate up to 1,000 MW of electricity, enough to run 750,000 homes, the company added.

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One Comment

  1. Paddy Briggs says:

    This is important news. These two major companies would not have made this investment if they did not think that the project was viable. So Shell’s withdrawal has nothing to do with the inherent merits of the project but with their continued aversion to activities away form their core hydrocarbon business. As a shareholder I have no problem with this. As Tom Peters wisely said – STICK TO YOUR KNITTING !

    What I object to, however, is the continued claims by Shell and other Oil Majors that they are genuinely interested in “Renewables”. The reality is that they have neither the time nor the skills nor the imagination to be heavily involved in Wind Energy (etc.). The number of staff, the capital investment and the revenue expenditure on Renewables is minuscule compared with the core hydrocarbon business. But the rhetoric in the corporate advertising of Shell and the rest is quite disproportionate to this reality. It really is utterly hypocritical.