AES to Exit Jordan and the United Kingdom
April 23 2019 - 8:00AM
Business Wire
The AES Corporation (NYSE: AES) announced today that it has
entered into agreements to sell its interests in six power plants
in Jordan and the United Kingdom for total proceeds of $211
million. In Jordan, AES 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. (a wholly-owned
subsidiary of Nebras Power Q.P.S.C.) and Mitsui and Co., Ltd. In
the United Kingdom, AES agreed to sell two operational thermal
power plants and one operational energy storage facility for a
total of 1,419 MW to Energetický a Průmyslový Holding (EPH).
“We are proud of our many years of successful operations in
Jordan and the United Kingdom,” said Andrés Gluski, AES President
and Chief Executive Officer. “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.”
These transactions are expected to close later this year. The
sale in Jordan is subject to approvals from project lenders and the
sale in the United Kingdom is subject to regulatory approval by the
European Commission.
In Jordan, AES 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 United Kingdom, AES 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.
About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global power
company. We provide affordable, sustainable energy to 15 countries
through our diverse portfolio of distribution businesses as well as
thermal and renewable generation facilities. Our workforce is
committed to operational excellence and meeting the world’s
changing power needs. Our 2018 revenues were $11 billion and we own
and manage $33 billion in total assets. To learn more, please
visit www.aes.com. Follow AES on Twitter @TheAESCorp.
AES 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
the execution of PPAs, conversion of our backlog and 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’ 2018 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 2018 Annual
Report on Form 10-K filed February 27, 2019 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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Investor Contact: Ahmed Pasha 703-682-6451
Media Contact: Amy Ackerman 703-682-6399
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