- PRESS RELEASE -
Advancion® Platform Powering Europe’s Largest Energy Storage Fleet
Vlissingen, Netherlands, January 13, 2016 – The AES Netherlands Advancion® Energy Storage Array has begun operating commercially, enhancing European grid reliability with fast response ancillary services. The 10 MW Array, equivalent to 20 MW of flexible resource, was completed in December and began successfully serving the Netherlands and European Common Markets. The Array is powered by the Advancion 4 energy storage solution, a complete, low-cost battery-based alternative to traditional peaking power plants and pumped hydroelectric storage projects that provides a dependable, smart and cost-competitive means to modernize power systems.
AES Advancion, the low-cost, scalable platform developed and refined over AES’ eight years of energy storage operating experience, brings to Europe the ability to more efficiently dispatch existing generation assets, resulting in lower system-wide emissions and cost savings, as well as enabling greater integration of renewable power. The Advancion solution is now available to third parties in Europe and elsewhere as a modern and cost-effective solution to meet peak and flexible power needs while strengthening the grid.
“We are pleased to deliver the benefits of Advancion energy storage to Europe, less than a year after project kick-off,” said Julian Nebreda, President of AES’ Europe Strategic Business Unit. “As Europe and its utilities work to lower carbon emissions and improve resiliency of the grid, the Advancion energy storage solution can be quickly and cost-effectively scaled to enable integration of greater volumes of intermittent generation like wind and solar.”
“Advancion is infinitely scalable, geographically dispersable and a smart, modern and low-cost solution to today’s grid challenges,” said Steve Corwell, AES Europe Vice President. “We are excited to now offer Advancion directly to leading European utilities and key industry participants so that they may benefit from the experience built into Advancion in their markets. We look forward to working with them.”
With the completion of the Netherlands Array and the 10 MW Kilroot Array in Northern Ireland, the AES Advancion solution now powers the largest fleet of advanced energy storage in Europe. Globally, AES has worked with customers to integrate energy storage into eight different power markets and AES’ energy storage solutions represent the world’s largest advanced energy storage fleet, with 116 MW and three million megawatt-hours of delivered service. AES has announced construction or late stage development of an additional 268 MW of energy storage.
About AES Energy Storage Solutions
AES is a global leader in commercial energy storage solutions, which unlock value from existing power infrastructure, improving flexibility and reliability of the power system, and providing customers with a complete alternative to traditional peaking power plants. The company’s Advancion® 4 energy storage solution is available for sale to leading utilities, power markets, renewable developers, and independent power producers, and AES can manage installations from concept to operation with a market-proven solution that integrates best in class battery and power conversion technologies. AES introduced the first grid-scale advanced battery-based energy storage solution in commercial power market service in 2008 and operates the largest fleet of battery-based storage assets in service today. The company works with utility partners and other customers to deliver the value of advanced storage around the world. 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 18 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce of 18,500 people is committed to operational excellence and meeting the world’s changing power needs. Our 2014 revenues were $17 billion and we own and manage $39 billion in total assets. To learn more, please visit www.aes.com. Follow AES on Twitter @TheAESCorp.
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 achievements of planned productivity improvements and incremental 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’ 2014 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 2014 Annual Report on Form 10-K dated on or about February 25, 2015 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.
