The ambitious project by the Portuguese government that aims to increase electricity generated from renewable sources to 45 percent by 2010 is not new news. However, what is new is that this is not just political bullshit, a lot of private investment has gone into it as well.

Today, the World’s largest Solar Power Plant opened in Portugal and it is expected to produce 20 gigawatt-hours per hour.

It was also announced today that EDP, the country’s biggest electricity utility, agreed to buy Horizon Wind Energy LLC of Texas from Goldman Sachs Group Inc. for $2.15 billion, becoming the world’s fourth largest wind-power producer.

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