The AES Corporation recently announced it has expanded its wind generation business into France and Bulgaria, increasing the company’s wind development pipeline in Europe to more than 1,300MW.
AES purchased a minority interest in InnoVent SAS, a French wind farm developer with more than 600MW of wind projects in development. AES also acquired a minority stake in the 120MW Kavarna wind project in Bulgaria, one of the largest wind development projects in southeast Europe. AES has the option to acquire majority control of a significant portion of InnoVent projects during the next five years and a majority stake in the Kavarna project once development is completed. Financial terms of the transactions were not disclosed.
