Poland

Poland

AES buys 353MW Polish development pipeline

POLAND: AES Wind has signed an agreement with Polish wind developer Reichert to acquire its 353MW development pipeline.

Under the deal, AES will take a 51% stake in the project pipeline. Construction on 158MW of the projects is expected to be built next year and will require $80million of funding from AES.

Completion of the entire project pipeline will cost $175million through to 2014.

Speaking about the deal, Paul Hanrahan said: "Increasing our presence in Poland¹s wind market falls in line with our strategy to pursue high-growth renewable energy markets. With 775MW in our development pipeline, we are establishing a strong foothold in one  of Europe¹s most attractive markets for wind generation."

AES has 288MW of European wind capacity and 1.7GW in operation globally.

 

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