EDP Renewables to Devote $4 Billion to New U.S. Wind Farms

Nov 23 2009 | 8:18pm ET

EDP Renewables will invest $4 billion in wind energy projects in the United States over the next three years, the company announced this week.

The investment will be used to create jobs, build and operate new projects and manufacture equipment for those projects.

"EDP Renewables is serious about partnering with the United States for a number of reasons, but most of all because of the leadership we have seen from the federal government," said Antonio Mexia, CEO of EDP and Chairman of EDP Renewables. "The Obama Administration and Congress signaled that they are serious about fostering production of renewable energy and that has assured us that America is the right place to invest."

EDP Renewables has a presence in 21 states and operates more than 2,500MW of wind energy capacity in the United States, employing about 300 people. The company’s U.S. arm, Horizon Winds, is owned by EDP’s subsidiary EDP Renvovaveis S.A. (EDPR).

The announcement came one day before Horizon Wind Energy dedicated the first phase of Meadow Lake Wind Farm in Indiana, a 199.65 MW project worth more than $400 million.

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