E.On and Dong Energy buy Shell's stake in windfarm

E.On's U.K. chief executive, Paul Golby, said Monday the two companies will become equal partners in the London Array project.

Germany's E.On and Dong Energy had joined Shell to build 341 wind turbines on offshore platforms where the Thames River meets the North Sea 60 miles outside London. It should power a quarter of London homes.

Shell said in May that it would sell its 33 per cent shareholding in the project.

The windfarm will cost 2.5 billion pounds ($5 billion) and will help Britain meet government targets of generating 10 percent of electricity from renewable sources by 2010.