Green Options » dong energy http://greenoptions.com/tag/dong-energy Posts tagged 'dong energy' Tue, 22 Jul 2008 05:55:35 +0000 http://wordpress.org/?v=2.5.1 en World’s Largest Offshore Wind Farm Back on Track http://cleantechnica.com/2008/07/21/worlds-largest-offshore-wind-farm-back-on-track/ http://cleantechnica.com/2008/07/21/worlds-largest-offshore-wind-farm-back-on-track/#comments Tue, 22 Jul 2008 05:55:35 +0000 Timothy B. Hurst http://cleantechnica.com/2008/07/21/worlds-largest-offshore-wind-farm-back-on-track/ offshore wind turbines

The world’s biggest offshore wind farm was revived yesterday when German-based energy group E.ON and the Danish utility Dong Energy agreed to acquire Shell’s 33% stake in the 1,000-megawatt London Array.

The two firms, which each own a one-third stake in the project will now become 50-50 partners by buying out Shell, the former third partner. Shell decided to withdraw from the London Array project back in May after a strategic review indicated that the project would not bring sufficient rates of return on the investment. Industry-wide cost inflation has raised the cost of the project to more than £2.5bn ($5 billion U.S.), well above the original estimates of £1.5bn three years ago.

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