E.ON UK, Dong Energy and Masdar have agreed to push ahead with the London Array wind farm, giving a boost to the UK plan to build up massive offshore wind farms to meet its carbon reduction target.

Wave energy could catch up with commercially more advanced offshore wind power within five years, the head of pioneers Aquamarine Power Ltd told Reuters.

"What it took 25 years to do in the wind industry, we want to do in five years," Chief Executive Officer Martin McAdam said in an interview.