Tentative first steps for global firm

AES Corporation, a major global power company, took its first step into the United States wind market with an equity investment in US Wind Force LLC. Although US Wind Force has yet to complete its first project, it has 1200 MW in development and two permitted projects: 225 MW in West Virginia and the 40 MW Savage Mountain project in Maryland with Padoma Wind Power. Both could be built in 2005.

All of the projects are in the mid-Atlantic region of the US, which AES says is a fast growing area. "We see a lot of potential in wind as a new and expanding source of electricity here in the United States," says AES president and CEO Paul Hanrahan. "It provides a good opportunity for AES to enter the US wind energy sector in the highly attractive East Coast market through a company that has good sites, a good market and a good management team."

With $8.4 billion in sales in 2003, AES owns 113 gas, coal, oil and hydro power facilities in 27 countries, including New York, Texas and New Hampshire in the US. The projects it is planning with US Wind Force will be AES's first wind projects.