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.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Often seen as a passion project, or part of a philanthropic venture, rare and fine stringed instruments offer an exciting option to diversify one’s investment portfolio while providing an opportunity for an exceptional long-term investment.