AES Corp., a Fortune 500 energy company, has completed the purchase of Valcour Wind Energy (Valcour) from investment firm Carlyle. Valcour’s six wind farms represent the largest operating wind platform in New York. The Valcour portfolio currently produces roughly 25% of the State of New York’s wind power and includes three wind parks in Clinton County totaling 279 MW, two wind parks in Wyoming County totaling 227 MW, and one wind park in Franklin County totaling 106 MW.
Cogentrix Energy, a Carlyle portfolio company, operated, maintained, and managed the portfolio since Carlyle’s acquisition of Valcour in 2018. AES is assuming these responsibilities going forward.
“The State of New York is a leader in the transition to a smarter, greener energy future while ensuring communities gain the economic benefits of hosting renewable energy projects. With the acquisition of the Valcour wind portfolio and our more than two decades of experience in New York, we’re proud to work together with state and local communities to help meet these admirable goals,” said Leo Moreno, president of AES Clean Energy. “This wind portfolio complements our 1-GW solar pipeline in the state, allowing us to provide custom offerings such as our 24/7 product to realize a carbon-free energy grid. Thanks to the partnership between Carlyle, Cogentrix, and Valcour, the Valcour portfolio also offers a strong platform upon which we can continue to build through repowering.”