AES Acquires Two 230 MW Petroleum Coke-Fired Power Plants In Mexico
The plants, Termoelectrica del Golfo (TEG) and Termoelectrica del PeSoles (TEP), are fully contracted services that supply power to two main Mexican industrial corporations, CEMEX and PeSoles, respectively, below 20-year agreements in accordance with Mexican self-supply regulations. Both plants additionally secure petroleum coke from CEMEX beneath 20-yr contracts. Constructed in 2004, the services make the most of CFB know-how, offering a cleaner technique to burn petroleum coke compared to some other applied sciences. Petroleum coke is a by-product of petroleum refining and gives aggressive gasoline cost advantages relative to pure fuel, the foremost gasoline for power generation in Mexico.
“These property match well with AES given our experience in working CFB plants and skills at structuring complex international transactions,” stated David Gee, President of AES’s North America area.
AES helped pioneer CFB know-how in the US in the early nineties. Immediately, it owns and operates five CFB plants in North America and one in Asia, all of which offer world-class reliability to their prospects.
AES named Pete Convery as Plant Manager of TEG and TEP. Convery, who has been with AES since 1993, has 10 years experience managing CFB facilities, including AES Shady Level in Oklahoma and AES Warrior Run in Maryland. He will handle plant operations and might be supported initially by an interim on-site crew of CFB expertise consultants assembled from different AES plants.
“Mexico has very high per capita income and is experiencing steady economic growth. The acquisition of those two plants permits AES to develop our robust platform in Mexico,” mentioned Mark Woodruff, AES Vice President of North America Growth.
AES has operated in Mexico since 2000, when it completed development of the nation’s first impartial energy plant: AES Merida III, a 484 MW natural gas and diesel-fired energy plant.
Along with TEG and TEP, AES’s CFB facilities embrace AES Hawaii, AES Puerto Rico, AES Shady Point in Oklahoma, AES Thames in Connecticut, AES Warrior Run in Maryland and Aixi list of oil refinery products in China. AES also operates one petroleum coke-fired power plant, AES Deepwater, in Texas.
AES is without doubt one of the world’s largest world energy firms, with 2005 revenues of $eleven billion. With operations in 26 nations on five continents, AES’s era and distribution facilities have the capability to serve one hundred million people worldwide. Our 14 regulated utilities amassed 2005 annual gross sales of over 82,000 GWh and our 123 generation services have the capability to generate greater than forty four,000 megawatts. Our global workforce of 30,000 folks is committed list of oil refinery products to operational excellence and meeting the world’s rising energy needs. To learn extra about AES, please visit www.aes.com or contact AES media relations at firstname.lastname@example.org.
Secure Harbor Disclosure
This news release contains ahead-looking statements within the meaning of the Securities Act of 1933 and of the Securities Change Act of 1934. Such ahead-wanting statements embrace, but aren’t limited to, those related to future earnings, growth and monetary and working performance. Ahead-looking statements are not meant to be a guarantee of future outcomes, but as an alternative represent AES’s current expectations based on cheap assumptions. Forecasted financial information is predicated on certain materials assumptions. These assumptions include, however will not be limited to, continued normal levels of operating efficiency and electricity demand at our distribution companies and operational efficiency at our contract generation companies in line with historic ranges, as well as achievements of planned productivity enhancements and incremental development investments at normalized funding ranges and rates of return in line with prior experience. Precise outcomes may differ materially from these projected in our forward-trying statements as a result of dangers, uncertainties and other components. Vital elements that might have an effect on precise outcomes are mentioned in AES’s filings with list of oil refinery products the Securities and Change Commission, together with, however not limited to, the dangers mentioned under Merchandise 1A “Risk Factors” in AES’s 2005 Annual Report on Kind 10-Okay. Traders and different fascinated events are encouraged to learn AES’s filings to learn extra about the chance elements associated with AES’s enterprise. AES undertakes no obligation to update or revise any forward-wanting statements, whether or not as a result of new data, future events or in any other case.