AES to Deploy 37.5 MW of Advancion® Energy Storage Arrays for SDG&E
August 18 2016 - 6:40PM
Business Wire
The AES Corporation (NYSE: AES) today announced its subsidiary,
AES Energy Storage, has entered into two contracts with San Diego
Gas and Electric (SDG&E). AES will install and commission two
energy storage arrays totaling 37.5 MW using its Advancion® energy
storage solution at sites in San Diego County, California. The
SDG&E-owned energy storage arrays will help to improve regional
reliability and integrate greater amounts of renewable energy when
operational by the end of January 2017.
“We are excited that SDG&E has selected AES’ Advancion
energy storage solution to help meet peak demand and ensure the
reliability of the electric grid in Southern California,” said
Andrés Gluski, AES President and Chief Executive Officer. “AES
recently made Advancion available to utilities, developers and
commercial customers interested in owning our innovative and
scalable solution, and SDG&E’s selection of Advancion
highlights the significant growth potential we see for our energy
storage business.”
With the support of the California Public Utilities Commission,
SDG&E leveraged an ongoing competitive solicitation to seek
energy storage projects on an expedited basis. SDG&E selected
Advancion 4, AES’ fourth generation battery-based energy storage
platform and recipient of the Edison Electric Institute’s 2016
International Edison Award. Advancion is designed for rapid
deployment and is a smart, dependable and cost competitive
alternative to peaking power plants that improves existing electric
infrastructure and enables a greater penetration of clean energy
resources.
“These batteries are beneficial because they maintain a reliable
flow of energy to customers when they need it most,” said James P.
Avery, SDG&E’s chief development officer. “We also are national
leaders in supplying renewable resources, with more than 33 percent
of the energy we supply to customers coming from wind and solar.
These batteries will help smoothly integrate this growing supply of
clean energy onto the power grid for use by our customers.”
The SDG&E Advancion arrays will be able to provide 37.5 MW
of power for four continuous hours and serve as a 75 MW of flexible
resource to the grid. The arrays will be installed at two SDG&E
substation facilities: 30 MW in Escondido and 7.5 MW in El Cajon.
Once completed, the Escondido array will be the largest
battery-based energy storage project in operation in the United
States. Both arrays will incorporate components from best-in-class
Advancion certified suppliers, including batteries by Samsung SDI
and power conversion systems by Parker Hannifin.
AES has been deploying advanced battery-based energy storage
onto electric grids since 2008, including recent installations in
the United States, Northern Ireland and the Netherlands. With more
than three million megawatt-hours of delivered service across 136
MW of energy storage projects in four countries and an additional
296 MW under construction or in late stage development, AES is the
most experienced energy storage provider in the world.
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 Energy Storage 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 Energy Storage
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 Energy Storage 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 Energy Storage
has a total of 432 MW of interconnected energy storage, equivalent
to 864 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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