Abu Dhabi buys into London Array
23 Oct 2008
Masdar has purchased 40% of Germany based power company E.ON's half share in the project, which had looked in trouble earlier this year when Shell WindEnergy Ltd pulled out. However, E.ON and Danish utility company Dong Energy, Shell's partners in the original consortium, bought out Shell's stake in July and now Masdar has bought into E.ON's share.
A delegation from E.ON and Masdar met senior UK Government Ministers and officials recently at Downing Street to discuss the project and to reaffirm the Government's commitment to it.
With the British Government having just committed itself to reducing greenhouse gas emissions by 80% by 2050, Prime Minister Gordon Brown was understandably pleased. He said, 'This is an excellent example of the partnership we need between oil producing and oil consuming countries to develop new energy sources and technologies, diversifying their economies and reducing our dependence on carbon. The scale and vision of the London Array is groundbreaking and places the UK at the forefront of offshore wind development.'
Secretary of State for Energy and Climate Change Ed Miliband added, 'Over the next decade, offshore wind will make an important contribution to meeting the UK's renewable energy target and to the security of our energy supply. Offshore wind is a rapidly growing sector, with the potential to provide up to 70,000 new, green jobs.'
Read the full story in the November issue of Maritime Journal.





