Report: China State Grid circling AES US wind business

A report suggesting that State Grid Corporation of China has been in talks with AES about acquiring part of its US wind business was not addressed during the US-based global power company's fourth-quarter earnings call Monday.

Reuters, citing three unnamed sources, reports that the companies have "had talks" about state-owned State Grid taking "a roughly 80% stake" in the AES US wind portfolio.

AES is pursuing "large asset sales" and "exiting, over time, those markets where we do not" have a competitive advantage, chief executive Andrés Gluski tells analysts during the company's earnings conference call. These include agreements to sell more than 1.5GWs of combined cycle gas turbine (CCGT) power plants in New Jersey and Pennsylvania, and its 80% stake in a nearly 1.2GW CCGT Log in to read complete article.

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