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The European Investment Bank (EIB) has signed a GBP 250 million Loan Facility with DONG Energy, guaranteed by the Danish Export Credit Agency (Eksport Kredit Fonden, EKF) on the basis of deliveries from Siemens Wind Power and Per Aarsleff. The loan is part of the financing for the construction of the London Array offshore wind farm. The financing is in line with DONG Energy's strategy to diversify its funding on various loan types and to fund projects out of the parent company. The first phase of the London Array wind farm has a capacity of 630 MW and is expected to begin operation in 2012 and be able to provide renewable energy for the London Olympics. Once completed it will be the world's largest offshore wind farm. DONG Energy owns 50% of the farm with E.ON (30%) and Masdar (20%) holding the remaining shares.