AES Announces Acquisition of 49.9% Stake in AES Colon

Source: www.gulfoilandgas.com 9/14/2021, Location: North America

The AES Corporation (AES) announced the acquisition of a 49.9% stake in AES Colon from Inversiones Bahia, Ltd., increasing its ownership to 100% of AES Colon.

AES Colon is comprised of a 381 MW liquid natural gas (LNG)-fired power plant and an 180,000 cubic meter LNG storage and regasification facility. The project came on-line in 2018 and 100% of the output from the generation facility is contracted through 2028.

"This transaction reaffirms AES' commitment to Panama and represents a new milestone in the execution of our regional LNG strategy to deliver cleaner, reliable and efficient energy to our clients. This acquisition will contribute to maximizing the value of our regional LNG business through the development of important synergies and flexibility across our portfolio," said Juan Ignacio Rubiolo, President for AES' Mexico, Central America and the Caribbean Strategic Business Unit.

"We are glad to continue executing on our LNG strategy in Central America and the Caribbean. This acquisition will position AES to incorporate new strategic partners into these LNG assets and continue unlocking the portfolio's value," said Gustavo Pimenta, AES Executive Vice President and Chief Financial Officer.


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