AES Completes SeaWest Acquisition; AES Expands Wind Footprint to 13 States.ARLINGTON, Va. -- The AES Corporation AES Corporation AES (NYSE) is a Fortune 1000 company that generates and distributes electrical power. It was founded on January 28, 1981 by Roger Sant from the US Federal Energy Administration and Dennis Bakke from the Office of Management and Budget. (NYSE NYSE See: New York Stock Exchange :AES) today announced it completed the acquisition of SeaWest Holdings, Inc, a leading wind generation operator and developer, for approximately $60 million. "The purchase of SeaWest strengthens AES's goal to be a leading global provider of wind energy," said Robert Hemphill, AES Executive Vice President of Business Development. "There's a natural synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. with SeaWest's skill in wind development and AES's expertise in building and operating generating facilities." Through the acquisition of SeaWest and its subsidiaries, AES gains operational control of 500 MW of wind facilities in California, Wyoming and Oregon and 1,800 MW of development sites in 10 states in the western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century , including the 120 MW Buffalo Gap Buffalo Gap is the name some places in the United States:
AES's acquisition of SeaWest, combined with its 2004 investment in US Wind Force, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , gives the company a strong base of wind projects operating or in development in 13 states, including California. California has the largest installed base of wind projects in the US. AES continues to pursue additional wind energy ownership and construction opportunities in the US and Europe. The company's expansion into wind energy generation is linked to the expected growth of 15 percent a year in global demand for wind generation. Wind generation is expected to grow from 46,000 MW in 2004 to 112,000 MW by 2010. About AES AES is a leading global power company, with 2004 sales of $9.5 billion. AES operates in 27 countries, generating 44,000 megawatts of electricity through 120 power facilities and delivers electricity through 17 distribution companies. Our 30,000 people are committed to operational excellence and meeting the world's growing power Growing Power is an urban agriculture organization headquartered in Milwaukee, Wisconsin. It runs the last functional farm within the Milwaukee city limits and also organizes activities in Chicago. needs. To learn more about AES, please visit www.aes.com or contact media relations at media@aes.com. |
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