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AES to sell Turkish assets for $125M

Oct. 13, 2014 8:33 AM ETThe AES Corporation (AES) StockBy: Carl Surran, SA News Editor
  • AES Corp. (NYSE:AES) agrees to sell its interest in a Turkish joint venture for $125M, as the global utility company attempts to further streamline its business.
  • The assets involved in the sale consist of 364 MW in operating natural gas and hydroelectric facilities, as well as an interest in a coal-fired development project.
  • Including this deal, AES says it would have received $2.4B in proceeds from asset sales in the past three years; it says that while the sales have helped cut overhead costs by $200M, or about a third, it still has more MW under construction than at any time in its history.

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