EDP To Acquire Horizon Wind Energy

NAW Staff, Tuesday 27 March 2007 - 10:50:32

Energias de Portugal SA (EDP) has signed an agreement to acquire 100% of the share capital of Horizon Wind Energy LLC, a wind farm developer and owner, from The Goldman Sachs Group Inc. for $2.15 billion. According to EDP, the acquisition is a natural fit with the company's strategy because it would enhance its renewable energy portfolio and provide entry into the U.S. market.

The transaction is subject to customary closing conditions, including certain federal and state regulatory approvals and clearance, the companies add. However, it is targeted to close by the end of the second quarter 2007.



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