Belfast, Northern Ireland, April 1st, 2014 – AES Kilroot Power Limited (AES KPL) today announced plans to bring 100 MW of battery-based power solutions to Northern Ireland. The advanced battery based storage array is designed to deliver reliable power with no direct emissions that will lower the cost to consumers, help meet government renewables policy targets for Northern Ireland, and improve flexibility of the power system managed by the System Operator of Northern Ireland (“SONI”).
The proposed AES storage array will support the best use of wind power and improve grid efficiency in Northern Ireland. This fast, accurate, dispatchable power source will provide a powerful resource for lowering the cost of system security and help achieve the deployment of clean, renewable power. Storage arrays are designed with the ability to tap into existing underutilized power capacity from efficient power plants, solar, and wind facilities. All of this can be done without direct emissions or ongoing water use.
“Storage arrays have the unique ability to participate as active power system support with no emissions and to provide both supply and load to help manage the variability of renewables,” said John Zahurancik, Vice President, AES Energy Storage. “Leveraging existing AES infrastructure will allow us to rapidly deliver reliable, economical power resources on behalf of customers in Northern Ireland.”
With 200 MW of storage resources in operation and construction and over 1.5 million MW-h of service delivered, AES is an established leader in providing dependable grid-scale energy storage solutions to utilities and power markets. These AES battery arrays continually serve and compete with traditional resources in markets across the globe, proving their cost-competitiveness in addition to their dependability.
“As part of AES’ commitment to bringing innovative energy solutions to Northern Ireland, we’ve opened extensive dialogue with SONI and other key stakeholders to make storage arrays a reality in Northern Ireland,” said Mark Miller, Vice President, AES United Kingdom and Ireland Markets. “We have submitted a connection application to SONI to secure transmission grid connection at Kilroot and are continuing to explore potential commercial arrangements. We are convinced that the proposed solution will help Northern Ireland meet policy goals while reducing the cost of energy for electricity customers.”
To better serve customers and the power industry, AES recently introduced AES Advancion™, a complete battery-based grid resource. As the fourth generation of AES-designed grid energy storage solutions, Advancion is currently available to utility companies and renewable developers in select markets around the world, including Northern Ireland. Battery facilities in the United States currently utilize the technology to provide grid stability services to utilities across 13 U.S. states and Washington, D.C.
The proposed storage array will be integrated into existing AES infrastructure at the Kilroot power station. With a suitable commercial agreement in place, the storage array could be online as early as the second quarter of 2015.
About AES Energy Storage Solutions
AES is a leader in commercial energy storage partnerships, which enable utilities, power markets and renewable developers to manage projects from concept to operation. The company’s energy storage solutions unlock value from existing power infrastructure, liberating reserve capacity, enabling renewable facilities to generate new revenue streams, improving flexibility and reliability of the power system, and meeting peak power demand. With 200 MW of storage-based resources in operation and construction, AES has the largest fleet of battery-based storage assets in commercial operation today. The company has over 1,000 MW in development with prospects in the US and abroad. To learn more, please visit www.aesenergystorage.com or @aes_es on Twitter.
About AES
The AES Corporation (NYSE: AES) is a Fortune 200 global power company. We provide affordable, sustainable energy to 21 countries through a diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce of 22,000 people is committed to operational excellence and meeting the world's changing power needs. Our 2013 revenues were $16 billion and we own and manage $40 billion in total assets.
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. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES’s current expectations based on reasonable assumptions. Actual results could differ materially from those projected in AES’s forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in the Tender Offer Materials related to the Tender Offers and AES’s filings with the SEC, including, but not limited to, the risks discussed under Item 1A “Risk Factors” and Item 7 “Management’s Discussion & Analysis of Financial Condition and Results of Operations” in AES’ 2013 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES’s filings to learn more about the risk factors associated with AES’s business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Anyone who desires a copy of AES’s 2013 Annual Report on Form 10-K dated February 26, 2014 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.
