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AES sells six power plants; focuses on renewables, energy storage and LNG

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AES has announced that it has entered into agreements to sell its interests in six power plants in Jordan and the UK for total proceeds of US$211 million.

In Jordan, AES claims that it has agreed to sell two operational thermal power plants and one solar plant under construction for a total of 683 MW to Nebras Power Investment Management B.V. and Mitsui and Co., Ltd. In the UK, meanwhile, AES claims that it has agreed to sell two operational thermal power plants and one operational energy storage facility for a total of 1419 MW to Energetický a Prumyslový Holding (EPH).

Andrés Gluski, AES President and Chief Executive Officer, said: “We are proud of our many years of successful operations in Jordan and the UK.

“In line with our business strategy, we continue to reduce the number of countries in which we operate and focus our growth efforts in fewer markets, and especially in renewables, energy storage and LNG.”

According to the statement, these transactions are expected to close later this year. The sale in Jordan is subject to approvals from project lenders, while the sale in the UK is subject to regulatory approval by the European Commission.

In Jordan, AES claims that it has agreed to sell its 36% interest in the 381 MW Amman East gas-fired power plant, the 250 MW IPP4 oil-fired power plant and the 52 MW AM Solar project, which is currently under construction. In the UK, meanwhile, the company has agreed to sell its 100% interest in the 708 MW Ballylumford gas-fired power plant and its 99% interest in the 701 MW Kilroot coal and oil-fired power plant, as well as the 10 MW Kilroot Energy Storage facility.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/24042019/aes-sells-six-power-plants-focuses-on-renewables-energy-storage-and-lng/

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