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Horizon Wind Energy announces deal with GE Energy

Company to also open regional headquarters in Albany

Wind project developer Horizon Wind Energy announced this morning it has signed wind turbine supply and service agreements with GE Energy and that it will establish a regional headquarters in Albany.

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.”

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

The Daily Gazette

29 January 2008