Horizon Wind Energy LLC, a subsidiary of Energias de Portugal (EDP), agreed to a transaction with a consortium of institutional equity investors, composed of GE Energy Financial Services and Wachovia Investment Holdings LLC, for the participation in a portfolio of four wind farm projects in the U.S.
According to EDP, the consortium will invest a total of $600 million, of which $340 million was funded in 2007 and the remainder will be invested in 2008.
The projects, which include Elkhorn Valley, Prairie Star, Twin Groves II and Lone Star II, are expected to have a net installed capacity of 600 MW.
