Dong May Buy Shell’s London Array Stake With E.ON, Borsen Says
By Tasneem Brogger
July 10 (Bloomberg) — Dong Energy A/S may buy Royal Dutch Shell Plc‘s stake in the London Array wind farm together with partner E.ON AG to prevent project costs from rising should a third party join, Borsen reported, citing a Dong executive.
The Danish utility is in talks with Shell to purchase its interest together with E.ON, the Copenhagen-based newspaper said, citing Dong spokesman Niels Bergh-Hansen. Dong is keen to prevent a third party from entering the project because that would require “starting over,” raising costs, Borsen said.
Shell said in May it may sell its 33 percent stake in the project after costs climbed. The wind park is planned to be the world’s largest, producing enough power for a quarter of London’s homes.
E.ON and Dong currently hold 33 percent stakes in the development, planned to start production in 2011 and reach a capacity of 1,000 megawatts.
To contact the reporter on this story: Tasneem Brogger in Copenhagen at[email protected]
Last Updated: July 10, 2008 02:58 EDT
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