Oct. 13, 2014, 8:33 AM
- AES Corp. (NYSE:AES) agrees to sell its interest in a Turkish joint venture for $125M, as the global utility company attempts to further streamline its business.
- The assets involved in the sale consist of 364 MW in operating natural gas and hydroelectric facilities, as well as an interest in a coal-fired development project.
- Including this deal, AES says it would have received $2.4B in proceeds from asset sales in the past three years; it says that while the sales have helped cut overhead costs by $200M, or about a third, it still has more MW under construction than at any time in its history.
Aug. 7, 2014, 7:07 AM
Aug. 6, 2014, 5:30 PM
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Jul. 15, 2014, 5:36 PM
Jun. 25, 2014, 4:40 PM
- AES Corp. (AES) agrees to sell 45% of its stake in the Masinloc power plant as well as development projects in the Philippines to EGCO Group for $453M; after the sale, AES will own a 51% stake in Masinloc and will continue to manage and operate the plant.
- Separately, AES says recent actions by Bulgaria's energy regulator limiting the ability of the country's national electric company to pass through certain costs to the regulated market could hurt the financial performance of its 690 MW Maritza plant.
Jun. 17, 2014, 5:19 PM
- SunEdison (SUNE) is buying AES' 50% stake in Silver Ridge Power (SRP) for an undisclosed sum. The deal gives SunEdison 50% ownership of 336MW of operating solar projects, and 40% ownership of a 183MW CA solar project to be finished in 2016. (PR)
- The remaining 50% stake in SRP will continue to be owned by Riverstone Holdings. But Riverstone and SunEdison expect SRP to contribute a 266MW operating CA solar project in its possession to SunEdison's TerraForm Power (TERP) YieldCo unit.
- SunEdison also expects to buy Riverstone's share of SRP's interest in the 183MW project, and to contribute a 40% interest in the project to TerraForm in 2016.
- Earlier: Solar stocks jump following SolarCity, Yingli news
May 8, 2014, 6:37 AM
May 7, 2014, 5:30 PM
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Apr. 20, 2014, 8:42 AM
Feb. 26, 2014, 6:08 AM
Feb. 26, 2014, 12:05 AM
Feb. 25, 2014, 5:30 PM
Jan. 21, 2014, 11:46 AM
- Talisman Energy (TLM +0.8%) reportedly rejected a $17B takeover offer from French utility GDF Suez (GDFZY, GDSZF), as the two sides failed to agree on terms in December and have not been in contact since.
- However, U.S.-based utility AES Corp. (AES +0.4%) may still be in GDF’s sights given its footprint in places such as Colombia, where GDF does not operate: GDF's Chinese partner, CIC, is an 8% shareholder in AES, which could ease financing and help get support for a deal.
- Beyond TLM and AES, sources say GDF also could look at smaller portfolios of assets in Latin America worth $5B-$10B, such as assets held by Duke Energy (DUK +0.9%) and Italy's Enel (ENLAY).
Jan. 15, 2014, 5:09 PM
Nov. 30, 2013, 8:25 AM
- Coal (KOL) has regained a little ground this year as the fuel of choice for U.S. power plants, but not in Appalachia, where natural gas for electricity generation has become very cheap.
- So much gas is being pumped from the Marcellus Shale, and so few pipelines serve the area, that a glut has developed in Pennsylvania and West Virginia, driving down the price of electricity and making it hard for coal to compete, WSJ reports.
- FirstEnergy (FE) stopped generating power in October at two plants in the area, and AES has told regulators it may close its Beaver Valley coal plant near Pittsburgh; analysts think more closures are likely in the region.
- As natural gas prices have crept up closer to $4/M BTUs, coal recovered some of its market share, but gas in Pennsylvania is going for as low as $1.83; the longer gas and electricity prices stay low, the more likely it is that commercial coal plant owners could shut plants or file for bankruptcy.
Nov. 7, 2013, 6:21 AM
AES vs. ETF Alternatives
The AES Corporation is a power generation and utility company. The Company operates in two business lines; Generation & Utilities; through its six market-oriented Strategic Business Units in United States, Andes, Brazil, MCAC, EMEA and Asia.
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