By D. Lorenz
The London Array – the world’s biggest planned offshore wind farm – was put back on track yesterday after Germany’s E.ON and Dong Energy of Denmark agreed to buy Shell’s 33 per cent stake in the scheme.
The companies already owned a third each, and their respective stakes will increase to 50 per cent each.
Shell pulled out in May with concerns over the profitability of the scheme.
The move by the oil giant follows BP’s review of its renewable division amid concerns that it would not be profitable enough in the current economic climate.