Denmark-based DONG Energy, E.ON UK and Abu Dhabi’s Masdar will go ahead with plans to develop London Array offshore wind farm in the Thames Estuary, England. The trio will invest EUR2.2bn (USD3bn) in the first phase of the project, which is scheduled for completion in 2012. When complete, the wind farm will have a capacity of 1GW.
?The London Array is a flagship project in our drive to cut emissions by 80% by 2050 and meet future energy needs? says British Prime Minister, Gordon Brown. ?The UK is a world leader in offshore wind farms, creating jobs and prosperity for the economy. That’s why we have increased our support for this technology as we move towards a low carbon future.?
The London Array has faced a number of uncertainties over the past year, which began with Shell’s decision to sell its stake in the project to focus on the US wind energy market. In July, E.ON and DONG acquired the Dutch oil firm’s share. Masdar bought a 20% stake in the project in October, but in January raised concerns about its economic viability. Increased support from the UK government for offshore wind energy has reassured the partners that the project is now financially feasible.
The first phase of the project, located around 12 miles off the coasts of Kent and Essex, will comprise 175 wind turbines and have a capacity of 630MW.
StrategyEye's related companies: E.ON AG
