The AES Corporation (NYSE:AES) increased its China-based wind power operations through two new agreements with Guohua Energy Investment Co. Ltd., one of China’s largest wind power developers.
AES acquired 49% of the Guohua Hulunbeier Wind Farm, which began commercial operation in September 2007 in Inner Mongolia, China. The wind farm currently produces 49.5 megawatts (MW) of wind generated power. This acquisition is AES’s second wind power project with Guohua.
AES also reached a separate agreement with Guohua to proceed with construction of phase II of their jointly-owned Huanghua wind project in Hebei Province, approximately 200 kilometers southeast of Beijing. The expansion will add another 49.5 MW, doubling the operating capacity of Huanghua to 99 MW when construction is completed in 2010. Phase I of the Huanghua Project is currently under construction with commercial operation expected in late 2009. Construction on phase II will begin after construction is completed on phase I. AES owns 49% of the Huanghua Project which has the potential to expand to up to 200 MW.
"The acquisition of the Hulunbeier Wind Farm and extension of the Huanghua Project are part of AES’s continued expansion of its wind power business in China," said Tom Kunde, President of AES China. "We see a tremendous opportunity for further growth for AES in China. Together with Guohua, a leader in China’s renewable energy field, AES is helping China meet its commitment to generate 30,000 MW of wind power by 2020."
AES currently has more than 1,000 MW of wind power in operation and another 6,000 MW of wind projects in various stages of development in fast growing markets including Bulgaria, Chile, China, France, Greece and Scotland.
About AES China
AES is one of the first US-based power companies to begin building wind generation facilities in China. In 1994, AES became the first US-based power company to enter China, and now operates nine power plants in nine provinces and municipalities with a total generation capacity of 2,941 MW. AES’s diverse operations in China include gas-fired, oil-fired, hydroelectric, wind and coal-fired plants.
About AES
AES is one of the world’s largest global power companies, with 2007 revenues of $13.6 billion. With operations in 29 countries on five continents, AES’s generation and distribution facilities have the capacity to serve 100 million people worldwide. Our 15 regulated utilities amass annual sales of over 78,000 GWh and our 123 generation facilities have the capacity to generate more than 43,000 megawatts. Our global workforce of 28,000 people is committed to operational excellence and meeting the world’s growing power needs. To learn more about AES, visit www.aes.com.