AES buys Polish wind development pipeline

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AES Corp.’s wind-energy business has signed an agreement to acquire a 353-megawatt development pipeline from Polish wind developer Jan Reichert.

Under the deal, AES purchased 50 percent of the pipeline and will own up to 90 or 95 percent as Reichert meets certain benchmarks.

President and CEO Paul Hanrahan said the acquisition will continue the company’s goal of investing in high-growth renewable energy markets.

Following the acquisition, AES Wind Generation will own a development pipeline of 775 megawatts in Poland.

AES currently owns 228 megawatts of wind operations in Europe and 1,700 megawatts around the world.

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