Arlington, Va., March 6, 2014 – AES Energy Storage today introduced AES Advancion, a complete battery-based grid resource – delivering the services expected from peaking power plants, with added benefits. Advancion is the fourth generation of AES-designed grid energy storage solutions and is now offered to utility companies and renewable developers in select markets. The offering incorporates six years of commercial experience developing, owning and operating storage assets, bringing utility buyers a smart, cost-competitive solution within established industry business models. With 200 MW of storage resources deployed and in construction and over 1.5 million MW-h of service delivered, AES is an established leader in providing dependable grid-scale energy storage solutions to utilities and power markets.
“Looking at the challenges faced by utilities and power markets today, we developed a complete and cost-effective battery-based solution for power reliability,” said Chris Shelton, President, AES Energy Storage. “The Advancion storage offering is a natural extension of our business platforms, serving utilities, power systems, and their customers.”
Advancion acts as both a generation and load resource, enabling more than twice the flexible range of a peaker plant on the same size interconnection. It is continuously available without burning fuel and was designed with the ability to tap into existing unused capacity from efficient natural gas combined cycle power plants, solar and wind facilities. Unlike traditional power plants, Advancion arrays can scale over time with the ability to match required load growth in lock step.
About AES Advancion
There are three components of the AES Advancion storage offering:
AES Advancion customer solutions can be tailored to specific market needs in terms of power and duration. Arrays are made of several units and delivered in sizes ranging from tens of megawatts to hundreds of megawatts with durations of thirty minutes to four hours or more.
“Utility industry stakeholders are looking to modernize with advanced technologies that offer superior reliability and scalability for more efficient grid operation. They’re asking for smart and cost effective alternatives, especially for their resource adequacy and flexibility needs,” said John Zahurancik, Vice President, AES Energy Storage. “We’ve listened to their concerns and designed Advancion to deliver dependable utility class operating performance, maintenance and safety.”
Advancion is now available to utility buyers and renewable developers in PJM, California, Hawaii, Puerto Rico, UK, the Philippines, and other markets. For more information, please visit www.aesenergystorage.com.
About AES Energy Storage Solutions
AES is a leader in commercial energy storage partnerships, which enable utilities, power markets and renewable developers to manage projects from concept to operation. The company’s energy storage solutions unlock value from existing power infrastructure, liberating reserve capacity, enabling renewable facilities to generate new revenue streams, improving flexibility and reliability of the power system, and meeting peak power demand. With 200 MW of storage-based resources in operation and construction, AES has the largest fleet of battery-based storage assets in commercial operation today. The company has over 1,000 MW in development with prospects in the US and abroad. To learn more, please visit www.aesenergystorage.com or @aes_es on Twitter.
The AES Corporation (NYSE: AES) is a Fortune 200 global power company. We provide affordable, sustainable energy to 21 countries through a diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce of 22,000 people is committed to operational excellence and meeting the world’s changing power needs. Our 2013 revenues were $16 billion and we own and manage $40 billion in total assets.
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. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES’s current expectations based on reasonable assumptions. Actual results could differ materially from those projected in AES’s forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in the Tender Offer Materials related to the Tender Offers and AES’s filings with the SEC, including, but not limited to, the risks discussed under Item 1A “Risk Factors” and Item 7 “Management’s Discussion & Analysis of Financial Condition and Results of Operations” in AES’ 2013 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES’s filings to learn more about the risk factors associated with AES’s business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Anyone who desires a copy of AES’s 2013 Annual Report on Form 10-K dated February 26, 2014 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.