$4 BIL FOR U.S. WIND JOBS

EDP Renovaveis Plans To Spend $4B On US Wind Power
Bernd Radowitz, November 19, 2009 (Dow Jones Newswires via Wall Street Journal)

"Portugal's EDP Renovaveis SA…plans to spend $4 billion through 2012 to build new wind farms in the U.S., one of the world's fastest-growing markets for renewable energy… EDPR said it aims to add more than 2 gigawatts in new wind power generation capacity…

"The investment is in line with expectations… for the company's U.S. investments, and should help the company to reach its target to install between close to 1.4 GW per year in new electricity generating capacity per year globally…The company has earlier said it plans to add about half of its new wind power generation capacity in the U.S…"

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"EDPR, together with Iberian peers Iberdrola Renovables SA…is already among the top renewable energy utilities in the U.S.. The only U.S.-based company that rivals the Iberian companies in the U.S. market in size is Next Era Energy Resources LLC, a unit of FPL Group Inc. (FPL).

"EDPR…plans to build on the new 800 megawatts of capacity already installed or under construction in the U.S. market. EDPR's U.S. unit Horizon Wind Energy has a presence in 21 states and operates more than 2,500 MW of wind energy capacity."

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"The rapid growth in the U.S. comes in large part due to grants for renewable energy given via U.S. Treasury and the Department of Energy's 1603 Program…

"The U.S. is currently the world's most dynamic market for renewable energy…Other growth markets, such as China, aren't as easy to enter for foreign companies due to protectionism and unclear rules…To ensure more companies can maker longer term investments in the renewables sector in the U.S., however, more needs to be done…[an EDP spokesperson] said…A renewable electricity standard [is needed]…"