AES adds 700MW through European acquisitions

US: AES Wind Generation has purchased UK wind energy developer Your Energy and is taking a 51% stake in a Polish portfolio owned by 3E.

Burton Wold wind farm, England is part of the YEL portfolio
Burton Wold wind farm, England is part of the YEL portfolio

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The deals will increase AES's European wind energy assets by 700MW. The company also announced plans to invest $120m and put 200MW into construction by the end of 2011.

YEL has developments planned of more than 300 MW. Of that amount, AES plans to begin construction on 48 MW by the end of 2010.

The 3E portfolio comprises 422MW in planned developments with construction set to begin on approximately 34MW in 2010 and 120MW in 2011.

The announcements come as AES announced it had brought online three European projects: the 35MW St. Patrick project in France, the 22MW North Rhins project in Scotland, and the 156MW St. Nikola at Kavarna project, Bulgaria.

 Speaking about the deal AES president and chief executive officer Paul Hanrahan said: "In line with our strategy to focus on high-growth renewable energy markets in Europe, these transactions expand AES Wind Generation's portfolio within the U.K. and into Poland.

"With more than 200 MW in advanced-stage development, these investments will begin contributing to our growth in 2012 and beyond," stated, President and Chief Executive Officer of AES."


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