State Grid in talks to buy US wind power assets
Updated: 2012-02-28 17:30
BEIJING - State Grid Corp of China has had talks with US power firm AES Corp about taking a controlling stake in its US wind power business, three sources said.
It wasn't clear how much State Grid would pay for the assets or how the business would be structured after the sale. Based on analysts' estimates, the assets could be worth around US$1.65 billion.
The deal involves wind power assets with capacity of around 1,100 megawatts and would give State Grid a roughly 80 percent stake in AES's US wind power business, sources with direct knowledge of the matter said. It would be State Grid's first foray into the US.
The sources declined to be named as they were not authorized to speak with the media.
Arlington, Virginia-based AES did not immediately respond to requests for comment, and State Grid's media official declined to comment when reached by phone.