Horizon Wind Energy LLC, a subsidiary of Energias de Portugal S.A. (EDP), agreed recently the indicative terms of a transaction with institutional equity investors for a portfolio of wind projects.
The consortium is composed by JP Morgan, ABN Amro and Morgan Stanley. This transaction, which follows EDP acquisition of Horizon, covers a portfolio of projects with 722MW of net installed capacity and the total contribution from the investors sums to around US$ 700 million. Once executed, this transaction will enable EDP/Horizon to monetize the Production Tax Credits and the Accelerated Depreciation associated to Horizon's operational wind farms.
