- 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.