The AES Company has agreed to minority sell-downs of its companies within the Dominican Republic and Panama, as an enlargement of its current strategic partnership with Grupo Linda and a brand new partnership with Grupo Widespread’s subsidiary, AFI Widespread, by means of certainly one of its closed finish funds.
“We acquire large worth from partnering with robust native gamers who present invaluable 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 stay up for shut collaboration with AFI Widespread 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 monitor to attain its asset sale proceeds goal for the 12 months. Consequently, 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 12 months, such because the Warrior Run energy buy settlement termination, and the issuance of US$900 million of senior notes in Could, priced at 5.450%.
“We take a strategic and systematic strategy to asset gross sales,” added Joel Abramson, AES Senior Vice President of Mergers & Acquisitions and Technique. “With these transactions, we’re not solely executing on our asset gross sales programme, but in addition increasing native partnerships that assist the strategic targets of our companies to maximise worth.”
The agreements introduced right this moment embody the sale of 10% of AES’ enterprise within the Dominican Republic to Grupo Linda and Grupo Widespread’s subsidiary, AFI Widespread. AES’ companies within the Dominican Republic embody 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 an extra 150 MW of photo voltaic and wind energy crops.
The announcement contains 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/