AES Doubles Its Wind Development into France and Bulgaria

The AES Corporation expanded its wind generation business into France and Bulgaria, increasing the company’s wind development pipeline in Europe to more than 1,300 megawatts (MW).

AES purchased a minority interest in InnoVent SAS, a French wind farm developer with more than 600 MW of wind projects in development. AES also acquired a minority stake in the 120 MW Kavarna wind project in Bulgaria, one of the largest wind development projects in southeast Europe. Financial terms of the transactions were not disclosed. “AES’s investments in InnoVent and Kavarna allow us to enter the fast-growing wind energy markets in France and Bulgaria early, quickly and with established players,” said Keith Oberg, Managing Director, AES Europe Wind Generation. “Installed wind generation capacity in Bulgaria and France is expected to increase by more than 5,000 MW over the next five years.” “AES has more than 1,300 MW of wind projects in development in some of the most attractive markets in Europe,” said Ned Hall, President, AES Wind Generation. In July, AES announced the acquisition of majority control of the Wind Energy Ltd. (WEL) group companies, a UK-based wind development company, which is currently pursuing 640 MW of wind projects throughout Scotland.
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