AES Exiting Operations In Jordan And The U.K. - Quick Facts

(RTTNews) - Global power company AES Corp. (AES) announced Tuesday that it has entered into agreements to sell its interests in six power plants in Jordan and the United Kingdom for total proceeds of $211 million.

In Jordan, AES agreed to sell two operational thermal power plants and one solar plant under construction for a total of 683 MW to Nebras Power Investment Management B.V. (a wholly-owned subsidiary of Nebras Power Q.P.S.C.) and Mitsui and Co., Ltd.

In the U.K., AES agreed to sell two operational thermal power plants and one operational energy storage facility for a total of 1,419 MW to Energetický a Prumyslový Holding (EPH).

These transactions are expected to close later this year. The sale in Jordan is subject to approvals from project lenders and the sale in the U.K. is subject to regulatory approval by the European Commission.

AES said it continues to reduce the number of countries in which they operate to focus on its growth efforts in fewer markets, and especially in renewables, energy storage and LNG, in line with its business strategy.