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19 September 2006 -- The AES Corporation said that it closed on the sale of its AES Indian Queens Power Limited subsidiary, a 140 MW open cycle peaking power plant in Cornwall, UK, to International Power IQ Limited, a wholly owned subsidiary of International Power Limited, for approximately $60 million.

AES said that after paying down existing project debt the sale will result in a net return of cash to AES of approximately $28 million. There is no material gain or loss associated with the transaction. AES initially acquired the Indian Queens business in 1997.

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