Reports related to this article:
Project(s): View 9 related projects in PECWeb
Plant(s): View 6 related plants in PECWeb
Released January 26, 2024 | SUGAR LAND
en
Researched by Industrial Info Resources (Sugar Land, Texas)--AES Corporation (NYSE:AES) (Arlington County, Virginia) announced it completed 3.5 gigawatts (GW) worth of renewable-energy projects in 2023, including 1.6 GW of solar, 1.3 GW of wind and 0.6 GW of energy-storage capacity, nearly doubling the constructed capacity in 2022 and marking the largest yearly capacity addition in company history.
"This construction milestone represents a new record and a growth rate of nearly 100% over 2022," said Andrés Gluski, chief executive officer of AES, in a January 18 press release. "Including these newly added projects, AES' portfolio of renewables now reaches 18.4 GW."
Notable projects that wrapped up in 2023 include the two-phase construction of the 220-megawatt (MW) Great Cove Solar plant, the largest solar-power plant in the Commonwealth of Pennsylvania, according to AES; the University of Pennsylvania will purchase the total output. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for more information.
The other projects that wrapped up include the 238-MW first phase of the Chevelon Butte Windfarm in Arizona. A Phase II expansion project, which is expected to be operational this year, will make Chevelon Butte Arizona's largest windfarm (total capacity of 454 MW), according to AES. Subscribers can read detailed reports on Phase I and Phase II.
In its December investor presentation, AES said it aims to triple its renewables capacity by 2025 and for renewables to make up 79% of its generation mix by 2027. The company also said it has a backlog of 13.1 GW of projects with signed contracts that are not yet online.
AES recorded $5.3 billion in capital expenditures (capex) in the first three quarters of 2023, up from $2.7 billion year-over-year, according to the company's third-quarter financial results. The company has not released its planned capital spend for 2024.
Among the projects aimed at bolstering future growth is construction of the $306 million Morris solar plant in Missouri, which will utilize monocrystalline photovoltaic (PV) solar panels for a nameplate generating capacity of 250 MW. Black & Veatch Incorporated (Overland Park, Kansas) is providing engineering, procurement and construction (EPC) services for the project, and the completion is expected in mid-2025. Click here for the project report.
Meanwhile, the $297 million Petersburg Energy Center in Pike County, Indiana, 125 miles southwest of downtown Indianapolis, will provide 430 MW of solar generation from PV panels. Underway at AES' nearby Petersburg Generating Station is the construction of a 200-MW battery energy storage system (BESS). The projects are expected to wrap up in October 2024 and June 2025, respectively. In addition, the company is in the early stages of developing the conversion of two coal-fired units at the station to burn natural gas, which would maintain the units' total output of 1,052 MW. Subscribers can read detailed reports on the solar, BESS and conversion projects.
AES is nearing commissioning of the 200-MW Baldy Mesa solar-plus-storage project in San Bernardino, California, which has a power purchase agreement (PPA) in place with Amazon.com Incorporated (NASDAQ:AMZN) (Seattle, Washington) for the total output. Click here to read the project report.
In a January presentation titled Data Centers & Demand for Renewable Energy, AES said it expects data center demand to grow at least 15 GW (equivalent to about 45 GW of renewables) through 2030, adding half of its U.S. clean-energy backlog is contracted with "large technology customers." In addition to Amazon, AES' corporate customers include Facebook parent Meta Platforms Incorporated (NASDAQ:META) (Menlo Park, California) and Microsoft Corporation (NASDAQ:MSFT) (Redmond, Washington).
Subscribers to the GMI Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
"This construction milestone represents a new record and a growth rate of nearly 100% over 2022," said Andrés Gluski, chief executive officer of AES, in a January 18 press release. "Including these newly added projects, AES' portfolio of renewables now reaches 18.4 GW."
Notable projects that wrapped up in 2023 include the two-phase construction of the 220-megawatt (MW) Great Cove Solar plant, the largest solar-power plant in the Commonwealth of Pennsylvania, according to AES; the University of Pennsylvania will purchase the total output. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for more information.
The other projects that wrapped up include the 238-MW first phase of the Chevelon Butte Windfarm in Arizona. A Phase II expansion project, which is expected to be operational this year, will make Chevelon Butte Arizona's largest windfarm (total capacity of 454 MW), according to AES. Subscribers can read detailed reports on Phase I and Phase II.
In its December investor presentation, AES said it aims to triple its renewables capacity by 2025 and for renewables to make up 79% of its generation mix by 2027. The company also said it has a backlog of 13.1 GW of projects with signed contracts that are not yet online.
AES recorded $5.3 billion in capital expenditures (capex) in the first three quarters of 2023, up from $2.7 billion year-over-year, according to the company's third-quarter financial results. The company has not released its planned capital spend for 2024.
Among the projects aimed at bolstering future growth is construction of the $306 million Morris solar plant in Missouri, which will utilize monocrystalline photovoltaic (PV) solar panels for a nameplate generating capacity of 250 MW. Black & Veatch Incorporated (Overland Park, Kansas) is providing engineering, procurement and construction (EPC) services for the project, and the completion is expected in mid-2025. Click here for the project report.
Meanwhile, the $297 million Petersburg Energy Center in Pike County, Indiana, 125 miles southwest of downtown Indianapolis, will provide 430 MW of solar generation from PV panels. Underway at AES' nearby Petersburg Generating Station is the construction of a 200-MW battery energy storage system (BESS). The projects are expected to wrap up in October 2024 and June 2025, respectively. In addition, the company is in the early stages of developing the conversion of two coal-fired units at the station to burn natural gas, which would maintain the units' total output of 1,052 MW. Subscribers can read detailed reports on the solar, BESS and conversion projects.
AES is nearing commissioning of the 200-MW Baldy Mesa solar-plus-storage project in San Bernardino, California, which has a power purchase agreement (PPA) in place with Amazon.com Incorporated (NASDAQ:AMZN) (Seattle, Washington) for the total output. Click here to read the project report.
In a January presentation titled Data Centers & Demand for Renewable Energy, AES said it expects data center demand to grow at least 15 GW (equivalent to about 45 GW of renewables) through 2030, adding half of its U.S. clean-energy backlog is contracted with "large technology customers." In addition to Amazon, AES' corporate customers include Facebook parent Meta Platforms Incorporated (NASDAQ:META) (Menlo Park, California) and Microsoft Corporation (NASDAQ:MSFT) (Redmond, Washington).
Subscribers to the GMI Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
