AES to form wind farm JV in China

AES Corp., one of the largest global power companies, will form a wind farm joint venture with a unit of the mainland’s biggest coal producer that could cost 470 million yuan (US$62 million). AES will take a 49% stake in Guohua AES (Huanghua) Wind Power, with the rest going to Guohua Energy Investment, a wholly owned renewable energy unit of Shenhua Group.The venture plans to build and operate a 49.5 megawatt wind farm in Huanghua, Hebei province, about 200 kilometers southeast of Beijing. “Through our joint venture with Guohua, AES is able to enter the promising wind market in China with a well-established and respected partner, and to create a platform for further wind activities in the future,” said Ned Hall, President, AES Renewable Generation. (August 11, 2007)