Arlington, VA, Mar. 8, 2006 — The AES Corp. announced that its wholly owned subsidiary AES Kingston Holdings B.V., has agreed to sell its indirect interest in Kingston Cogeneration Limited Partnership (KCLP), a 110 MW cogeneration power plant in Ontario, Canada, to its partner, Northland Power Income Fund.
Under the terms of the agreement, AES Kingston Holdings B.V., will sell its indirect 50% interest in KCLP for $110 million. AES said the sale will result in a pre-tax gain of approximately $90 million.
The sale is subject to certain regulatory and third-party approvals and to customary purchase price adjustments. The transaction is expected to be complete by the end of March 2006.