AES sells stake in UK wind farms
The agreement is with SYND Holdco Ltd., a joint venture or Greencoat UK Wind PLC and Swiss Life Swiss Life Funds (Luxembourg) Global Infrastructure Opportunities S.C.A. The transaction is estimated to close in the third quarter.
The four farms generate a total of 87.5 megawatts.
“Although we believe that this transaction represents compelling value for AES, we are continuing to develop a pipeline of 250 megawatt of wind projects in Scotland,” Andrés Gluski, AES president and CEO, said in a statement.
These projects were expected to contribute $10 million in after-tax profit in 2015.