equity interest

AES to Sell 100% of its Interest in Assets in Turkey for $125 Million

The AES Corporation entered into an agreement to sell its 49.62% equity interest in AES Entek Elektrik Üretimi A.Ş. (AES Entek), a joint venture with KOÇ HOLDİNG A.Ş. and AYGAZ A.Ş., in Turkey, to its partners. The sale represents 100% of AES' interest in assets in Turkey, consisting of 364 MW of operating natural gas and hydroelectric facilities and its interest in a coal-fired development project, for $125 million in equity proceeds to AES. Subject to customary regulatory approvals, this transaction is expected to close by the first quarter of 2015.

EDF Sells Stake in Spinning Spur II Wind Farm Project to UBS

EDF Renewable Energy (EDF) and UBS International Infrastructure Fund (UBS) signed a definitive agreement under which UBS will acquire a 50 percent equity interest from EDF in the 161-MW Spinning Spur II wind farm project, subject to completion of construction and customary conditions precedent. Spinning Spur II, located in Oldham County Texas, commenced construction in June 2013 with an expected commercial operation date on or about July 1, 2014. Spinning Spur II will utilize 87 General Electric wind turbines with a rated capacity of 1.85 MW each.