Together the investments will require $400m of AES equity over five years. Out of that amount, $120m of AES equity will be invested in order to bring 200MW into construction by the end of 2011.
These developments take place as AES Wind Generation said that it has brought three of its projects into commercial operation throughout Europe during the first quarter of 2010, including the 35MW St Patrick project in France, the 22MW North Rhins project in Scotland, and the 156MW St Nikola at Kavarna project, Bulgaria.
The acquisition of YEL includes a development pipeline of more than 300MW. Out of that amount, AES Wind Generation plans to begin construction on 48MW by the end of 2010. The YEL acquisition underscores AES Wind Generation’s commitment to wind in the UK, and effectively doubles its development portfolio.
The agreement with 3E marks AES Wind Generation’s entry into the Polish wind market. According to the agreement, AES Wind Generation will acquire a 51% stake in 422MW of 3E’s development pipeline. AES Wind Generation expects to begin construction on approximately 34MW in 2010 and 120MW in 2011.
AES Wind Generation has approximately 1700MW of wind capacity in operation globally, and expects to bring an additional 99MW on-line in China through the end of 2010.
Earlier this year, the company brought the 101MW Armenia Mountain project on-line in Pennsylvania, US. The current development pipeline includes approximately 6000MW of projects across Asia, Europe and North America.
