AEI Services Acquires Nicaraguan Thermal Power Plant from El Paso Corporation

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Researched by Industrial Info Resources (Sugar Land, Texas)--AEI Services LLC (Houston, Texas) has purchased the Tipitapa Thermal Power Plant in from the El Paso Corporation (NYSE:EP) (Houston), which represents AEI's second investment in Nicaragua. The company already owns the 71-megawatt (MW) Corinto Thermal Plant, a barge-mounted and bunker-fired unit.

Tipitapa Power Company Limited, a power generation company with operations in Nicaragua, provides 50.9 MW of generation capacity from five 10.18-MW 18V38 Wartsila engines. The company has long-term power-purchase agreements with Nicaraguan distribution companies Distribuidora de Electricidad del Norte S.A. (Disnorte) and Distribuidora de Electricidad del Sur S.A., both majority owned by Union Fenosa (Madrid, Spain).

Roberto Figueroa, AEI's Regional Manager for Central America, said, "The acquisition of Tipitapa complements AEI's existing operations and strengthens our presence in Central America." AEI Energy is analyzing the possibility of increasing Tipitapa's power capacity by adding 30 MW by the end of the year. This acquisition would bring AEI's capacity up to 105 MW, ahead of Generadora de Occidente's 100 MW. Although AEI hasn't made an official announcement yet, Tipitapa officials revealed to Industrial Info that the company could also acquire the 39.9-MW Amayo Wind Farm Project valued at $95 million. For more information, view related February 15, 2008, article - Nicaragua's Amayo Consortium to Invest $95 Million in Windfarm.

AEI manages interests in 37 energy companies with operations in 19 countries and approximately 13,700 employees.

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