EDP Energias de Portugal said its US-based subsidiary Horizon Wind Energy has agreed to develop wind power projects with a consortium comprising JP Morgan, ABN Amro and Morgan Stanley.
EDP said the consortium will invest about 700 mln usd and the portfolio of projects will have an installed capacity of 722 MW, according to a filing with stock market regulator CMVM.
The company added that the deal, which comes in the wake of the acquisition of US-based wind power company Horizon, will allow EDP to get the production tax credits linked to the wind power production of the projects and the depreciation of the Horizon wind parks.
AFX News Limited
10 July 2007
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