EDP Secures $342 Million in Equity for Two U.S. Wind Farmsby
The projects in Texas, New York have power-purchase agreements
The backing comes from two unidentified financial institutions
The renewable energy arm of EDP-Energias de Portugal SA has secured $342 million in financing for two wind farms in the U.S. in exchange for stakes in the projects.
Two financial institutions will deliver funding for the wind farms, in Texas and New York, close to the start of their operations later this year, the Lisbon-based utility said in a statement Monday. EDP didn’t identify the investors.
The 250-megawatt Hidalgo wind farm in Texas and the 78-megawatt Jericho Rise project in New York both have long-term agreements to sell the power.