AES to Sell Stock, Wind-Power Stake to China's CIC

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Located in Hebei Province, a second phase is expected to reach commercial operation in 2010, boosting total output to 98MW. Separately, AES entered into a binding stock purchase agreement with a wholly-owned investment subsidiary of CIC to raise $1.58bn of new equity to fund growth opportunities and extend its global presence in the power sector. (More...)

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Located in Hebei Province, a second phase is expected to reach commercial operation in 2010, boosting total output to 98MW. Separately, AES entered into a binding stock purchase agreement with a wholly-owned investment subsidiary of CIC to raise $1.58bn of new equity to fund growth opportunities and extend its global presence in the power sector. [1] AES Corp.' s (AES) third-quarter profit rose 28% on stronger margins as the power producer announced it will sell $1.58 billion in stock to China's sovereign-wealth fund to raise capital for further international growth.[2]

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1. China's CIC to buy 35% stake in AES global wind division - Wind - Renewable energy news - Recharge - wind, solar, biofuels, wave/tidal/hydro and geothermal
2. AES Profit Jumps, Will Sell 15% Stake To China's Sovereign Fund - WSJ.com

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AES to Sell Stock, Wind-Power Stake to China's CIC

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