The sale of these businesses is in line with our strategy to exit those markets where we do not have a competitive advantage,” said Andrés Gluski, AES president and chief executive officer. “Narrowing our geographic focus and investing in our core markets better positions us for long term earnings growth.”
Since September 2011, the company has announced eight asset sale transactions totaling $890 million. Six of those transactions, totaling $756 million, have already closed.
On May 4, 2012 AES agreed to sell its 25 percent equity interest in the 2,100MW coal-fired Yangcheng plant and its 49 percent equity interest in the 248MW China Wind joint venture to Sembcorp Utilities for a total of $86 million. AES also signed an agreement to sell its 49 percent equity interest in Jianghe Rural Electrification Development Company Limited (JHRH) to its...AES shrinks equity interests in coal, hydro and wind assets in China
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