Jun 17 2010
The wind business of the AES Corporation named AES Wind Generation has signed a contract with Polish wind developer Jan Reichert for acquiring the latter’s 353 MW in development pipeline.
AES Wind Generation has purchased a 51% stake in this pipeline. Out of the overall pipeline, projects of 158 MW capacity are likely to commence construction in 2011 and will need around $80 million in AES Corporation equity. Completion of the complete pipeline would need around $175 million in AES equity.
Recently, AES Wind Generation marked its entrance into the wind market of Poland through the acquisition of the 422-MW development pipeline of 3E. The development pipeline of AES Wind Generation totals 775 MW in Poland. Globally, the development pipeline of AES Wind Generation stands at around 6,000 MW.
Poland has renewable energy targets to reach 10.4% in the year 2010 and 15% by the year 2010. Currently, around 90% of the overall production capacity of Poland comes from thermal energy. Presently, the wind capacity of Poland stands at 725 MW, and by 2020 the capacity is likely to hit 6,000 MW.