SERIOUS MONDAY: AES CORP. INVESTS IN WIND FACILITIES IN CHINA

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AES has become the first United States Power Company with wind facilities in China. In a joint venture with Guohua Energy Investment Company Ltd., China’s leading producer of renewable energy, they will construct, own and operated a 49.5 MW wind farm currently under design and be in commercial operation by 2009.

The wind farm is located in the Huanghua area of the Hebei Province. All power will be purchased by the Hebei Power Company as required by the Chinese Renewable Energy Law. AES subsidiary, AES Black Sea Holdings will own a 49% interest in the venture known as Guohua AES Wind Power Company, Ltd.

In 1994, AES was the first US based power company to enter China. It operates 7 power plants in 6 provinces with a total generation capacity of 2842 MW.

“We see tremendous growth opportunities for wind generation in China, which has committed to adding 30000 MW of new wind power by 2020,” said Tom Kunde, Vice President AES North Asia. “We look forward to being a key part of China’s growing wind generation sector.”

AES has more than 1000 MW of wind projects in operation in the US and 3000 MW in various stages globally. AES plans to expand in other countries in Asia and Latin America.

Dawn

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