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GE Energy Signs $730 Million Agreement with EDP (posted 10/25/07)

October 25, 2007
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GE Energy has signed an agreement with Energias de Portugal, SA (EDP) to supply wind turbines totaling more than 500 megawatts of new capacity.

GE Energy has signed a global frame agreement with the renewable area of Energias de Portugal, SA (EDP), the world’s fourth largest wind project developer, to supply wind turbines totaling more than 500 megawatts of new capacity for wind projects to be developed during 2008 and 2009 in Europe and the U.S. The total value of the agreement will be $730 million, bringing GE Energy’s recent wind turbine order announcements to more than $1 billion.

Under the frame agreement with EDP, GE will supply Neo Energia, the European renewable branch of EDP, with 80 2.5 x l wind turbines for new wind projects in Europe and provide Horizon Wind Energy LLC, EDP’s American branch, with 201 1.5-megawatt wind turbines for projects in the U.S. (sites yet to be determined). EDP, Portugal’s largest power group, purchased Houston, Texas-based Horizon earlier this month as part of an expansion into the North American wind energy industry.

“In the U.S. and around the world, we continue to see strong interest in the production of cleaner, wind-generated electricity,” said Victor Abate, vice president-Renewables for GE Energy. “In the U.S. alone, more than 2400 megawatts of new wind power was installed in 2006, while worldwide, more than 15,000 megawatts were installed, according to the Global Wind Energy Council. EDP is committed to expanding its wind energy portfolio to help to meet the growing global demand, and we are very pleased that our technology has been selected to support this effort.”

For additional details, visit www.ge.com/energy. EDP’s website is located at www.edp.pt.

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