Energy firms buy stake in world’s largest wind farm

A 33% stake in the world's largest planned wind farm, the London Array, will be transferred from Royal Dutch Shell to German energy group E.ON and Danish utility Dong Energy for an undisclosed sum, reports said on Tuesday.

Shell decided to withdraw from the project in May because it did not meet the expected financial rates of return, the Guardian reported.

The two European utilities each already own a one-third stake in the project in southeast England, and will now become 50-50 partners.

The project off the Kent coast is expected to supply electricity to over 750,000 homes, avoiding 1.5 million tonnes of carbon dioxide emissions every year.

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