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 Prumyslový 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.
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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