China's State Grid in talks to buy US wind assets

State Grid Corp of China has held talks with US power firm AES Corp (AES.NYSE) to buy a controlling stake in its US wind power business that analysts estimate could be worth around US$1.65 billion, Reuters reported, citing three sources. Sources said the deal involved wind power capacity of around 1,100 megawatts (MW) that would give State Grid a roughly 80% stake in the wind power business, though it wasn’t clear how much State Grid would pay for the assets or how the business would be structured after the sale. AES has wind power assets in Texas, California, Oregon, Minnesota, Iowa, West Virginia and Pennsylvania in the US, in addition to China and Europe. Any deal would be subject to both Chinese and US regulatory approval.