AES Corp., an independent power producer, said it acquired majority control of British energy company Wind Energy Ltd. in a move to expand its business into Europe.
Privately held Wind Energy is being restructured as part of the deal, with AES taking a controlling interest in each of the group's companies. Wind Energy has 640 million watts of wind generation projects in development in Scotland. AES currently operates 600 million watts of wind facilities. AES aims to triple its investment in wind generation over the next three years. It is pursuing an additional 2,000 million watts of wind projects in development, mostly in the United States. It is also looking at projects in Europe, China, India and Central and South America. Terms of the deal were not disclosed.
