Posted on 22/07/08
E.ON, Dong buy Shell stake in planned U.K. wind farm
E.ON AG and Dong Energy AS have agreed to buy Royal Dutch Shell PLC's stake in London Array, one of the world's largest planned wind farms, lifting a threat it might be cancelled. The companies said yesterday that Dong and E.ON, which already each own a third of the 1,000-megawatt project, would buy Shell's third for an undisclosed sum. Shell said in May that it wanted to sell out because rising costs made it unclear whether the planned 341 turbine wind farm in the Thames Estuary would be profitable. EOA (Frankfurt) rose €1.25 to €117.85 ($187.68). RDSA (London) rose 11 pence to £18.31 ($36.68).
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