Officials from EDP and EDP Renewables, the world's second largest generator of wind energy in terms of market capitalization and also the third largest wind energy producer in the United States, have targeted to devote approximately $4 billion to building new wind farms in the United States through 2012. Such investment will help create thousands of jobs to develop, build and operate the new projects, as well as to manufacture the equipment that will be installed in such projects. The target will build on the record amount of new capacity the company has already installed and has under construction in 2009, totaling 800 megawatts (MW) worth more than $1.5 billion of investment.

"EDP Renewables is serious about partnering with the United States for a number of reasons, but most of all because of the leadership we have seen from the federal government," said Antonio Mexia, CEO of EDP and Chairman of EDP Renewables. "The Obama Administration and Congress signaled that they are serious about fostering production of renewable energy and that has assured us that America is the right place to invest."

In the United States, EDP Renewables has a presence in 21 states and operates more than 2,500 MW of wind energy capacity. EDP Renewables' United States domestic operations have grown from 60 employees to nearly 300 in just three years. The company's rapid growth in 2009 is in large part due to the successful implementation by the Department of Treasury and the Department of Energy's 1603 Program that provided a regulatory framework to accelerate construction of new renewable energy capacity.

"Horizon Wind's participation in the Recovery Act's 1603 program is an example of a true federal partnership with the private sector," said Treasury Secretary Tim Geithner. "This innovative program provides companies with the resources needed to increase investments in renewable energy production, allowing the nation to establish a clean, domestic energy industry that creates jobs and revitalizes our economy."

Tags: EDP Renewables