June 25 (Bloomberg) -- EDP-Energias de Portugal SA, the owner of wind farms from New York to Oregon, said more U.S. states are offering investment opportunities for wind power development as local governments encourage renewable energy.

“We’re seeing today a bigger number of markets that are attractive than in the past,” Chief Executive Officer Antonio Mexia said in an interview in Cascais, Portugal. “There has been an increase in the number of states that have standards and that give importance to renewable energy.”

Local efforts are being backed up by a nationwide push from President Barack Obama, who set a goal for the U.S. to get 25 percent of its power from renewable sources by 2025. California, the largest U.S. state, is requiring utilities to get 20 percent of their power from renewables by 2010 and Governor Arnold Schwarzenegger in November added a target of 33 percent by 2020.

A bill considered by U.S. lawmakers would mandate 15 percent from renewables such as wind, solar and biomass by 2025.

EDP, based in Lisbon, became the world’s fourth-biggest wind operator after purchasing Horizon Wind Energy LLC of Texas from Goldman Sachs Group Inc. in 2007 for $2.15 billion. Its EDP Renovaveis SA unit has wind energy projects in New York, Illinois, Iowa, Minnesota, Oklahoma, Texas, Kansas and Oregon, according to the company’s first-quarter earnings presentation.

Lots of Wind

“The more interesting states are the ones in the center that have a lot of wind,” Mexia said. “It’s the three variables of resources, regulation and volume of production that determines the greater or lesser interest in different zones.”

Portugal’s biggest power company is increasing generation from dams, gas-fired plants and wind turbines in Europe and the U.S. to cut its reliance on oil and coal while tapping government incentives for alternative energy.

“We’re optimistic about the U.S.,” Mexia said in the interview. In March, he said that EDP may invest about a third of its 3 billion-euro ($4.2 billion) spending plan for this year in the U.S. as it expands the wind energy division. The company confirmed its investment plan on June 23.

The U.S. added 2,836 megawatts of wind turbines in the first quarter, double the pace from a year earlier, the American Wind Energy Association said in a report in April. The U.S. overtook Germany last year as the world’s largest producer of wind power and had 28,206 megawatts of capacity in March.

Manufacturers Expanding

Texas is the biggest U.S. state for wind power, followed by Iowa and California, according to the wind energy association. Indiana, Maine and Nebraska were the fastest growing states.

Manufacturers of wind energy equipment are also targeting growth in the U.S. Denmark’s Vestas Wind Systems A/S, the world’s largest maker of wind turbines, plans $1 billion in capital investments in the U.S. over two years.

The U.S. Interior Department on June 23 approved five exploratory leases for wind power projects off the coasts of New Jersey and Delaware that would be capable of generating electricity for more than 1 million homes. The leases were the first of their kind.

EDP’s renewable-energy unit plans to install 1,200 megawatts to 1,300 megawatts this year globally, targeting wind- energy capacity of 10,500 megawatts across Europe and the U.S. in 2012. Wind will represent 38 percent of installed capacity in 2012, up from 19 percent in 2007, the company said Nov. 6.

The company aims to increase adjusted net income 10 percent a year through 2012 and forecasts earnings before interest, taxes, depreciation, and amortization will rise at an average annual pace of 12 percent as it cuts costs and develops more wind projects, according to a plan announced in November.

To contact the reporter on this story: Joao Lima in Lisbon at jlima1@bloomberg.net

Last Updated: June 24, 2009 19:00 EDT