The AES Corporation (AES) is a global power company. As of December 31, 2011, the Company owned a portfolio of electricity generation and distribution businesses on five continents in 27 countries, with total capacity of approximately 44,200 megawatts and distribution networks. Photo credit HOANG DINH NAM/AFP

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Jun. 28, 2012– The AES Corporation (NYSE: AES) announced today that it closed the sale of its interests in wind generation assets in France for approximately €34 million (US$ 42 million) to Boralex Europe S.A.

Through its subsidiary AES Southern Europe Holdings, B.V., AES sold the 34.5 MW St. Patrick wind farm and its minority share of InnoVent SAS, which controls 114 MW of wind assets in operation and under construction. On a proportional basis, the transaction represents 73 MW of generation capacity.

“The sale of our French wind assets fits our strategy to exit some markets in order to focus on those where we can sustain a competitive advantage,” said Andrés Gluski, AES President and Chief Executive Officer. “Despite the difficult macroeconomic environment, we are continuing to execute on our plan to create shareholder value.”

The use of proceeds will be evaluated in accordance with AES’ capital allocation policy to maximize total shareholder returns by paying down debt, investing in new businesses or repurchasing shares.

These assets contributed approximately $3.5 million of net income to AES in 2011. With total expected proceeds of approximately $42 million, the implied P/E multiple for this transaction is 12 times 2011 earnings.

About AES

The AES Corporation (NYSE: AES) is a Fortune 200 global power company. We provide affordable, sustainable energy to 27 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities.

Our workforce of 27,000 people is committed to operational excellence and meeting the world’s changing power needs. Our 2011 revenues were $17 billion and we own and manage $45 billion in total assets. To learn more, please visit www.aes.com.