Prior to the Cedro hill project, the unit of Edison International had already stepped into Texas with two operational wind projects. These are the 161-MW Wildorado Wind Ranch near Amarillo and 149-MW Goat Wind project near San Angelo.

Edison's unit, through its 20 year power purchase agreement with CPS Energy of San Antonio, will sell all green power from the Cedro Hill project. Edison Mission Group has been investing in wind projects from 1998 and has since then started 29 wind energy projects with total generation capacity exceeding 1,800 MW.

This new Cedro Hill wind project involves a capital expenditure of $300 million. During the third quarter earnings call, Edison unit announced plans for investing $519 million in 2011 and $198 million in 2012 in other energy projects.

Recently, another subsidiary of the company, Edison Mission Energy, successfully completed $75 million debt financing for its $190 million High Lonesome Mesa, New Mexico, wind project. This project presently generates 100 MW of power using 40 wind turbines.

Edison International currently retains a Zacks #3 Rank (short-term Hold rating). We maintain our long-term Neutral rating on the stock.

Based in Rosemead, California, Edison International engages in the supply of electric energy in central, coastal and southern California.