USA - Spain's Gamesa gets major wind power Deal ($ 700 million) in the US

Spanish alternative energy specialist Gamesa, has signed an agreement to supply wind turbines worth up to 700 million dollars to US-based Horizon Wind Energy. The turbines are to have a capacity of 600 megawatts and will be installed in 2006 and 2007 by Horizon Wind Energy, which is owned by US investment bank Goldman Sachs, Gamesa said. "This transaction strengthens the position of Gamesa Wind in the US, which together with China is one of our target markets as we expand internationally," said Chief Executive Inaki Lopez Gandasegui. Analysts said that news of the order underlined the potential of the US market where the government has sought to encourage the development of alternative energy through a system of tax credits.