AES sells Jordan, UK assets to focus on LNG

AES sells Jordan, UK assets to focus on LNGImage courtesy of AES

The US energy company AES Corporation, has entered into agreements to sell its interests in six power plants in Jordan and the United Kingdom for total proceeds of $211 million, as it shifts focus to LNG.

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, a unit of Nebras Power and Mitsui and Co.

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), the company said in a statement.

Andrés Gluski, AES president and CEO, said, “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 percent 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 percent interest in the 708 MW Ballylumford gas-fired power plant and its 99 percent interest in the 701 MW Kilroot coal- and oil-fired power plant, as well as the 10 MW Kilroot Energy Storage facility.

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