AES Receives EEI’s Prestigious Edison Award for AES’ Advancion® Energy Storage Platform
June 13 2016 - 5:00PM
Business Wire
The AES Corporation (NYSE: AES) announced that it is the
recipient of the Edison Electric Institute’s (EEI) 2016
International Edison Award for its development and deployment of
Advancion® 4, its fourth generation, grid-scale, battery-based
energy storage platform. This is the Company’s fifth International
Edison Award and is a testament to the work AES’ employees are
doing alongside their suppliers, to provide their customers with
innovative and sustainable energy solutions.
“We are honored to receive this award from EEI, recognizing our
contribution to the development of efficient and cost effective
energy storage,” said Andrés Gluski, AES President and Chief
Executive Officer. “Nearly a decade ago, a small team at AES had
the idea to create advanced energy storage using lithium ion
batteries. Today, we are the largest operator of battery-based
energy storage in the world, with installations in four countries
and advanced development projects in three more. Advancion is
proven and available to utilities and other energy storage
customers to meet their needs in this rapidly changing energy
market.”
Using proven technology from nearly a decade of experience in
operating the largest fleet of battery-based energy storage in the
world, AES’ Advancion 4 energy storage solution has been deployed
on the Company’s own platforms and is also available for other
utilities, industrial and commercial customers, independent power
producers and power system operators to deploy.
Since late 2015, AES has deployed Advancion 4 in projects in the
United States, Northern Ireland and the Netherlands and now
operates 116 MW of energy storage projects with an additional 278
MW under construction or in late stage development. AES’ energy
storage platform is improving the reliability of the electric grid,
mitigating the intermittency of renewable generation and lowering
costs to operate the system.
Earlier this year, AES announced agreements with select leading
companies in the power sector, to ensure the global availability of
Advancion. Mitsubishi Corporation and Eaton Corporation are now
offering Advancion as the core of their energy storage platforms to
customers in Asia and Oceania, and Europe, the Middle East and
Africa (EMEA), respectively.
The Edison Award is the electric power industry’s most
prestigious honor and recognizes companies annually for their
leadership, innovation and progress in advancing the industry.
About AES
The AES Corporation (NYSE: AES) is a Fortune 200 global power
company. We provide affordable, sustainable energy to 17 countries
through our diverse portfolio of distribution businesses as well as
thermal and renewable generation facilities. Our workforce of
21,000 people is committed to operational excellence and meeting
the world’s changing power needs. Our 2015 revenues were $15
billion and we own and manage $37 billion in total assets. To learn
more, please visit www.aes.com. Follow AES on Twitter
@TheAESCorp.
About AES Energy Storage
AES is a leader in commercial energy storage solutions, which
improve flexibility and reliability of the power system, and
provide customers with a complete alternative to traditional
peaking power plants. The company’s Advancion® 4 energy storage
solution is available for sale to leading utilities, power markets,
and independent power producers, and AES and its partners can
manage installations from concept to operation with a market-proven
solution that integrates best in class battery and power conversion
technologies. AES introduced the first grid-scale advanced
battery-based energy storage solution in commercial operations in
2008 and operates the largest fleet of battery-based storage assets
in service today. AES has a total of 394 MW of interconnected
energy storage, equivalent to 788 MW of flexible resource, in
operation, construction or late stage development in seven
countries. To learn more, please visit www.aesenergystorage.com or
@aes_es on Twitter.
Safe Harbor Disclosure
This news release contains forward-looking statements within the
meaning of the Securities Act of 1933 and of the Securities
Exchange Act of 1934. Such forward-looking statements include, but
are not limited to, those related to future earnings, growth and
financial and operating performance. Forward-looking statements are
not intended to be a guarantee of future results, but instead
constitute AES’ current expectations based on reasonable
assumptions. Forecasted financial information is based on certain
material assumptions. These assumptions include, but are not
limited to, our accurate projections of future interest rates,
commodity price and foreign currency pricing, continued normal
levels of operating performance and electricity volume at our
distribution companies and operational performance at our
generation businesses consistent with historical levels, as well as
achievements of planned productivity improvements and incremental
growth investments at normalized investment levels and rates of
return consistent with prior experience.
Actual results could differ materially from those projected in
our forward-looking statements due to risks, uncertainties and
other factors. Important factors that could affect actual results
are discussed in AES’ filings with the Securities and Exchange
Commission (the “SEC”), including, but not limited to, the risks
discussed under Item 1A “Risk Factors” and Item 7: Management’s
Discussion & Analysis in AES’ 2015 Annual Report on Form 10-K
and in subsequent reports filed with the SEC. Readers are
encouraged to read AES’ filings to learn more about the risk
factors associated with AES’ business. AES undertakes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
Any Stockholder who desires a copy of the Company’s 2015 Annual
Report on Form 10-K dated on or about February 23, 2016 with the
SEC may obtain a copy (excluding Exhibits) without charge by
addressing a request to the Office of the Corporate Secretary, The
AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203.
Exhibits also may be requested, but a charge equal to the
reproduction cost thereof will be made. A copy of the Form 10-K may
be obtained by visiting the Company’s website at www.aes.com.
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The AES CorporationInvestor Contact:Ahmed Pasha,
703-682-6451orMedia Contact:Amy Ackerman, 703-682-6399
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