US-based electrical power generator and distributor AES has signed agreements to sell its interests in six power plants located in Jordan and the UK for $211m.
Image: AES has signed agreements to sell its interests in six power plants located in Jordan and the UK. Photo: Courtesy of Adam Radosavljevic from Pixabay.
AES said that it has agreed to sell two operational thermal power plants and one solar plant under construction in Jordan to Nebras Power Investment Management, a wholly-owned subsidiary of Nebras Power, and Mitsui.
The company plans to sell its 36% interest in the 381MW Amman East gas-fired power plant, the 250MW IPP4 oil-fired power plant and the 52MW AM Solar project, which is currently under construction in Jordan.
In the UK, the company has agreed to sell two operational thermal power plants and one operational energy storage facility to Energetický a Průmyslový Holding (EPH).
AES intends to sell its 100% interest in the 708MW Ballylumford gas-fired power plant and 99% interest in the 701MW Kilroot coal- and oil-fired power plant, along with the 10MW Kilroot Energy Storage facility.
AES is selling its power generation assets that are capable of producing a total of 683MW in Jordan and 1,419 MW in the UK.
AES president and CEO Andrés Gluski said: “We are proud of our many years of successful operations in Jordan and the United Kingdom. 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.”
The company is planning to close the transactions later this year and the sale in Jordan and UK are subject to the fulfilment of certain conditions.
The conditions include approvals from project lenders for sale in Jordan and regulatory approval by the European Commission for sale in the UK.
The AES claims that it provides affordable, sustainable energy to 15 countries through its diverse portfolio of distribution businesses along with thermal and renewable generation facilities.
In June 2018, AES has sold its 17% interest in Brazilian utility Eletropaulo to Enel Brasil Investimentos Sudeste, a subsidiary of Enel, for $340.3m.