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

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

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.

About Horizon Wind Energy

Horizon Wind Energy develops, constructs, owns and operates wind farms throughout the United States. Based in Houston, Texas with regional offices in New York, Oregon, Illinois, California, Denver and Minnesota, Horizon has developed more than 2000 MW and owns over 1300 MW of operating wind farms. Horizon is currently developing a portfolio of more than 10,500 MW in over a dozen states. Horizon is owned by Energias de Portugal (EDP), the largest Portuguese utility.

About GE Energy

GE Energy (www.ge.com/energy) is one of the world’s leading suppliers of power generation and energy delivery technologies, with 2007 revenue of $22 billion. Based in Atlanta, Georgia, GE Energy works in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels. Numerous GE Energy products are certified under ecomagination, GE’s corporate-wide initiative to aggressively bring to market new technologies that will help customers meet pressing environmental challenges.

With wind turbine design, manufacturing and assembly facilities in Germany, Spain, China, Canada and the United States, GE Energy is among the leading providers of wind energy products and support services ranging from commercial wind turbines and grid integration products to project development assistance and operation and maintenance. The company’s knowledge base includes the development and/or installation of more than 7,500 wind turbines with a total rated output of more than 9,800 megawatts.