March 27, 2007
EDP Acquires Horizon, Jumps to 4th Largest Wind-Power Producer
EDP-Energias de Portugal SA, the country’s biggest electricity utility, is buying Horizon Wind Energy LLC of Houston, Texas from Goldman Sachs Group for $2.15 billion, Bloomberg reports.
The acquisition boosts EDP’s ranking to fourth from sixth among the world’s largest wind-power producers.
EDP has branched into Spain and the U.S. because it faces growing competition at home
Horizon owns projects with 559 megawatts of production capacity and has 997 megawatts under construction. Horizon will boost EDP’s capacity from wind to more than 3,800 megawatts by the end of this year from 1,600 in 2006.
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