Horizon Wind Energy LLC, a subsidiary of Energias de Portugal S.A. (EDP), has agreed on the indicative terms of a transaction with institutional equity investors for a portfolio of wind projects. The consortium of equity investors includes JP Morgan, ABN AMRO and Morgan Stanley.
According to Horizon, this transaction covers a portfolio of wind projects with 722 MW of total net installed capacity. The total contribution from the investors totals approximately $700 million
Once executed, this transaction will enable EDP and Horizon to monetize the production tax credits and the accelerated depreciation associated with Horizon's operational wind farms.