AES seizes growth opportunity
The AES Corporation, an American-based power company, has acquired the majority share in the Wind Energy (WEL) group companies. The acquisition, which will provide AES with 640 MW of wind generation projects throughout Scotland, is the first expansion into Europe for AES.
“It represents a strategic step in our efforts to become a leader in wind generation development and operations worldwide. With global installed wind generation capacity expected to more than double the next five years, we see tremendous growth opportunities and we will continue to seek expansion projects across the globe,” explained vice president of business development, William Luraschi.
AES has been in wind generation since 2004 and currently operates 600 MW of wind facilities. WEL was formed in 2002 and is a privately held company that develops wind power projects in Scotland. As part of the acquisition, WEL is being restructured and AES will take a controlling interest in each of the group companies.
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