ARLINGTON, Va. (AP) — AES is selling its stake in a Turkish joint venture for $125 million as the Virginia utility continues its retreat from overseas markets.

CEO Andres Gluski said that the sale is part of the company’s strategy to streamline its portfolio and exit markets where it doesn’t hold a competitive advantage. AES will have exited nine countries in the last three years with proceeds of $2.4 billion from asset sales, including the sale of AES Entek Elektrik Üretimi AS, announced Monday.