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The AES Company has agreed to minority sell-downs of its companies within the Dominican Republic and Panama, as an growth of its present strategic partnership with Grupo Linda and a brand new partnership with Grupo Fashionable’s subsidiary, AFI Fashionable, by means of certainly one of its closed finish funds.
“We achieve large worth from partnering with robust native gamers who present helpful assist as we transition our companies in each markets,” mentioned Juan Ignacio Rubiolo, AES Govt Vice President and President, Vitality Infrastructure Strategic Enterprise Unit. “Now we have loved a productive partnership with Grupo Linda since 2014, and we sit up for shut collaboration with AFI Fashionable as we proceed to unlock new sources of worth.”
The sell-down agreements will present collective proceeds of US$190 million to AES, placing the xompany on observe to realize its asset sale proceeds goal for the yr. Because of this, AES has secured all exterior funding included in its 2023 capital plan, which is comprised of the proceeds from these sell-down agreements, plus these from different transactions introduced earlier this yr, such because the Warrior Run energy buy settlement termination, and the issuance of US$900 million of senior notes in Might, priced at 5.450%.
“We take a strategic and systematic method to asset gross sales,” added Joel Abramson, AES Senior Vice President of Mergers & Acquisitions and Technique. “With these transactions, we aren’t solely executing on our asset gross sales programme, but in addition increasing native partnerships that assist the strategic goals of our companies to maximise worth.”
The agreements introduced at this time embrace the sale of 10% of AES’ enterprise within the Dominican Republic to Grupo Linda and Grupo Fashionable’s subsidiary, AFI Fashionable. AES’ companies within the Dominican Republic embrace an LNG regasification terminal, with a 160 000 m3 LNG capability storage tank, the AES Andres 319 MW mixed cycle gasoline turbine plant, DPP 328 MW mixed cycle gasoline turbine, in addition to a further 150 MW of photo voltaic and wind energy crops.
The announcement consists of the sale of 20% of AES Colón in Panama, additionally to Grupo Linda. AES Colón features a 381 MW mixed cycle gasoline turbine with an adjoining regasification facility that has a 180 000 m3 LNG capability storage tank.
Learn the article on-line at: https://www.lngindustry.com/liquid-natural-gas/29092023/aes-sells-stake-in-dominican-republic-and-panama-lng-businesses/
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