The AES Corporation has entered into a joint venture with EHN, one of the world's largest renewable energy companies, to develop wind generation projects in New York State.
Through this joint venture, AES and EHN will focus their initial development efforts on advanced projects in Niagara County and Clinton County, where the companies have gathered over two years of meteorological data and have large real estate holdings. In the future the two companies plan to pursue other new project and acquisition opportunities throughout the state.
The partnership deal comes in the wake of declarations from New York State Governor George Pataki revealing a goal to obtain 25% of the state’s energy requirements from renewable resources by 2013. As a result of this AES and EHN see wind power as a high potential energy business for the area.
Through the joint venture, the companies expect to build more than 350 megawatts of new capacity in New York over the next few years.
We see a tremendous growth opportunity in wind generation, which is a natural extension of AES’s power generation businesses. The joint venture with EHN rounds out AES’s wind energy portfolio and gives the company a presence in 14 states in the US, said Ned Hall, AES vice president, Wind Generation.