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18 October 2006 -- The AES Corp. has expanded its wind generation business into France and Bulgaria, increasing the company's wind development pipeline in Europe to more than 1,300 MW.

AES purchased a minority interest in InnoVent SAS, a French wind farm developer with more than 600 MW of wind projects in development. AES also acquired a minority stake in the 120 MW Kavarna wind project in Bulgaria, one of the largest wind development projects in southeast Europe. AES has the option to acquire majority control of a significant portion of InnoVent projects during the next five years and a majority stake in the Kavarna project once development is completed. Financial terms of the transactions were not disclosed.

The 120 MW Kavarna wind project is located in northeastern Bulgaria, in one of the windiest areas of the country. Kavarna is expected to be operational by mid-2008 and will sell power to NEK, the national grid owner and operator, which provides preferential connection status for wind projects. Kavarna is being developed in partnership with Geo Power Ltd., a Bulgarian-German renewable energy development firm.

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