May 13--DONG Energy, E.ON and Masdar have today announced that they will invest DKK 16,4bn in building the first 630MW phase of the London Array offshore wind farm in the Thames Estuary.

Once complete, the scheme will be the the world's largest, and the first 1GW, offshore wind farm. The project will supply enough power for around 750,000 homes -- or a quarter of Greater London homes -- and displace the emission of 1.9m tonnes of CO2 every year.

This announcement comes after the UK Government's recent proposal to increase its support for offshore wind power. The partners are satisfied that the project is now financially viable and are now keen to push ahead with construction and to produce the first renewable power in 2012.

Anders Eldrup, CEO of DONG Energy said: "Following the 2 ROC announcement, and our subsequent decision to build the Walney projects, I'm thrilled that we today also have the final investment decision on the London Array project. The decision to build the London Array offshore wind farm is a very significant cornerstone in DONG Energy's strategy to increase the proportion of electricity generated from renewable energy sources. DONG Energy has built approximately half of all offshore wind farms in operation in the world today. Entering into the world's largest offshore wind farm project further strengthens DONG Energy's leading position in this field."

E.ON CEO Dr. Wulf Bernotat said: "I'm delighted that work can now get underway on the world's largest offshore wind farm. The start of London Array will mark a key milestone in our roadmap as we continue with our ambitious strategy to take renewables to an industrial level. With this pioneering scheme, we see a significant increase in scale for offshore wind and also for E.ON as we aim to become the world's largest offshore wind farm developer.

"Today's announcement is proof that, if all interested parties work together, renewable power can be taken to its next level and so make a real difference to the fight against climate change." Dr. Sultan Al Jaber, CEO of Masdar, said: "The leadership of Abu Dhabi recognizes the importance of global collaboration and engagement to deploy renewable energy on a large scale. The London Array represents Masdar's strategic approach to renewable energy, whereby real partnerships are formed between government and the private sector.