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Va. company expands wind in Europe

ARLINGTON, Va., Oct. 19 (UPI) -- Virginia-based AES Corp. purchased interest in French and Bulgarian wind energy projects that will put its European wind development at 1,300 megawatts.

According to an AES news release, it purchased minority interest in both InnoVent SAS, in France, with 600 megawatts of wind power projects currently under development, and a 120-megawatt project in Bulgaria operated by Geo Power Ltd.

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It also can exercise majority stake options in the French company within five years and Bulgarian Kavarna wind project when it's built, the release said.

"AES's investments in InnoVent and Kavarna allow us to enter the fast-growing wind energy markets in France and Bulgaria early, quickly and with established players. Through these investments, AES will more than double its wind development pipeline in Europe," said AES Europe Wind Generation Managing Director Keith Oberg.

The company purchased a majority stake in Scotland-based Wind Energy Ltd., which is building 640 megawatts of wind power now.

Since entering the wind energy sector in 2004, AES wind projects either in operation or in some sort of the developing stage account for more than 3,800 megawatts.

InnoVent will begin building 40 megawatts of wind power by next year and between 50 and 100 megawatts annually over a five-year span.

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The Kavarna project will be up and running within two years.

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