Horizon Wind Energy

Horizon Wind Energy, originally founded as Zilkha Renewable Energy in 1998, established itself as a significant developer, owner, and operator of wind power projects across North America. The company initially operated on a "build-transfer" model before shifting its strategy.

A pivotal moment in the company's trajectory occurred in June 2005, when it was acquired by The Goldman Sachs Group, Inc. and subsequently rebranded as Horizon Wind Energy. This acquisition marked a transition to a "developer-owner-operator" business model. Under this structure, Horizon managed the entire lifecycle of its projects, from development and construction to long-term operation. The firm's business involved identifying and securing high-wind resource sites, developing them into operational wind farms, and generating revenue through the sale of electricity. Its operations were geographically diverse, with wind farms in states like New York, Illinois, Iowa, Pennsylvania, Washington, and Oklahoma.

By early 2007, Horizon had a robust portfolio that included 559 gross megawatts (MW) of operating projects, with an additional 997 MW under construction. The company's development pipeline was substantial, exceeding 9,000 MW across 15 states. In a landmark transaction that concluded in July 2007, Energias de Portugal, S.A. (EDP) acquired 100% of Horizon Wind Energy from Goldman Sachs for an enterprise value of approximately $2.74 billion. This acquisition was a strategic entry for EDP into the high-growth U.S. renewable energy market, transforming the combined entity into a global leader in wind power. Following the acquisition, Horizon Wind Energy eventually became a subsidiary of EDP Renewables and was renamed EDP Renewables North America in 2011, aligning its branding with its parent company.

Keywords: wind energy, renewable energy, project development, wind farm operator, power generation, Goldman Sachs, EDP Renewables, Zilkha Renewable Energy, energy infrastructure, North America