E.ON takes 50% stake in windfarm project

• By E4B
• 22 July 2008
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E.ON has acquired a 50 per cent stake in a project to create one of the world's largest offshore windfarms.

The company joined forces with DONG Energy to buy out Shell's stake in the London Array development, which means the firms each now own half of the project.

According to the commercial electricity supplier, the new windfarm should create energy for a quarter of homes and businesses in the Greater London area.

Dr Paul Golby, the chief executive of E.ON, said that the company was "pleased" to "secure the future of the project".

"We believe that offshore schemes such as this have an important part to play as we look to ensure security of supply for the UK, reduce carbon emissions and keep energy as affordable as possible for our customers," he added.

E.ON's plans to build a new biomass power station in Sheffield were recently approved by the city's council.

The development is expected to be in full commercial operation from 2011.