The AES Corp. has successfully closed its equity sale with a wholly owned investment subsidiary of the China Investment Corp. (CIC). The deal was first announced in November 2009 and raises $1.58 billion in new capital for AES. CIC acquired 125.5 million shares of AES stock for $12.60 per share in exchange for an approximate 15% stake in the company.
AES has an advanced development pipeline of 1,500 MW of wind and solar projects in the U.S. and Europe, as well as an advanced development pipeline of 7,500 MW of core power projects, primarily in Asia and Latin America.
SOURCE: The AES Corp.