AES Corporation (NYSE:AES) has announced that its wholly owned subsidiary, AES Wind Generation, has acquired Your Energy ltd (YEL). YEL is a wind developer based in the United Kingdom. AES Wind Generation has also signed an agreement for the acquisition of a 51% stake in a 3E wind portfolio. The investments will add over 700 MW to the company’s European pipeline. The investments on the pipeline will require $400 million of the company’s equity for over five years. $120 million of that amount will be invested to bring 200 MW into construction by the end of 2011.
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The AES Corporation (AES) is a global power company. As of December 31, 2009, AES owns a portfolio of electricity generation and distribution businesses on five continents in 29 countries, with total capacity of approximately 40,300 Megawatts (MW) and distribution networks serving over 11 million people. In addition, it has more than 2,200 MW under construction in six countries. AES owns and operates two primary types of businesses: Generation business and Utilities business. Generation business owns and/or operates power plants to generate and sell power to wholesale customers, such as utilities and other intermediaries. Utilities business owns and/or operates utilities to distribute, transmit and sell electricity to customers in the residential, commercial, industrial and governmental sectors within a defined service area.
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