Horizon Wind Energy Signs Wind Turbine Supply, Service Agreements With GE Energy

Horizon Wind Energy LLC, a leading wind project developer, has signed wind turbine supply and service agreements with GE Energy for future U.S. projects. Horizon also announced today the establishment of a regional headquarters in Albany, N.Y. to oversee its future projects in New York State and the Northeastern United States.

GE will supply Horizon with 201 1.5-megawatt wind turbines, to be shipped during 2010. Under a separate, two-year agreement, GE will provide operations support, parts and maintenance for those units.

“We see strong potential for future wind projects throughout this region, and our new Albany office positions us to better serve this promising market,” said Antonio Martins da Costa, CEO of Horizon Wind Energy. “In addition, our local presence will reinforce our strong relationship with GE Energy’s renewable energy business, based in nearby Schenectady, NY.”

“Albany and the Capital Region have a rich history in the energy industry,” said Albany Mayor Jerry Jennings. “It’s great to see that we will continue to play an integral role in the future as clean energy technologies from companies like GE Energy begin to change the way we produce energy. I’m thrilled that Horizon Wind Energy has chosen Albany as the site to manage its northeastern activities.”

“With their new presence in the region, we look forward to working even more closely with Horizon Wind Energy,” said Victor Abate, Vice President-Renewables for GE Energy. “The new agreements with Horizon are further evidence that the wind industry continues to embrace our 1.5-megawatt wind turbine technology and support services. We have provided more than 7,700 of these machines for projects worldwide.”

Headquartered in Houston, Horizon Wind Energy is a fully owned subsidiary of Energias de Portugal S.A. (EDP), a major Portuguese utility and one of the world’s largest generators of electricity from renewable energy sources. At the end of 2007, Horizon was operating wind power plants with a total installed capacity of more than 1,300 megawatts, and the company currently is developing a portfolio of more than 10,500 megawatts in more than a dozen states.

The new agreements with Horizon Energy follow the October 2007 announcement of a global frame agreement between GE and with Horizon’s parent company, EDP, for the supply of 500 megawatts of wind turbines for 2008 and 2009 projects in the U.S. and Europe.

In addition to its relationship with GE Energy, Horizon Wind Energy is receiving a $300 million equity investment from GE Energy Financial Services in four of its wind farms. The investment will go to a 600-megawatt portfolio of wind farms in Oregon, Minnesota, Illinois and Texas.

GE Energy’s wind turbine technology is a key component of ecomagination, the GE corporate-wide initiative to address challenges such as the need for cleaner, more efficient sources of energy, reduced emissions and abundant sources of clean water.
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