European Investment Bank to step in


EU taxpayers are set to fund the building of the world’s biggest windfarm – the 341 giant offshore turbines of London Array to be built in the mouth of the Thames Estuary – following a pull out by Shell.

The European Investment Bank (EIB) is to lend several million to the project and is already committed to another offshore farm – Greater Gabbard off Suffolk – part of which UK Prime Minister Gordon Brown hopes to have up and running before the 2012 Olympics.

London Array will power 750,000 homes if successful, The Times reports.