AES Reaches Agreement to Sell Majority of Its Solar Business for up to $207 Million and Expects to Receive Approximately $50 Million in Proceeds from Previously Announced Google Investment in Mount Signal

ARLINGTON, Va.--(BUSINESS WIRE)--Jun. 17, 2014-- The AES Corporation(NYSE: AES) today announced that it has entered into a definitive agreement with SunEdison, Inc. (SunEdison) to sell its 50% stake in 336 MW of solar photovoltaic (PV) projects owned by Silver Ridge Power, LLC (Silver Ridge), a joint venture between AES and Riverstone Holdings LLC. Under the agreement, AES will sell its interest in solar PV projects in operation and under development in Europe, India and the United States for an equity purchase price of $165 million.



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