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Researched by Industrial Info Resources (Sugar Land, Texas)--AES Corporation (NYSE:AES) (Arlington, Virginia) plans to reduce its carbon footprint by constructing natural gas-fired and hydropower projects. The company is selling or retiring 4.3 gigawatts (GW) of merchant coal-fired generation, representing approximately 30% of its coal-fired capacity. In the company's conference call, Chief Executive Officer Andrés Gluski said, "By the end of 2020, we expect our coal-fired capacity to decline from 41% to 29%, while renewables and gas will increase from 55% to 68%."
Gluski said that AES has 4.4 GW of power projects under construction, most of which are expansions of existing plants.
Among AES' gas-fired projects is the 671-megawatt (MW) Eagle Valley combined-cycle power station in Indiana. Construction on the plant began in the first half of 2015 and is reaching its conclusion. Gluski said, "This plant is now in the commissioning phase and is expected to be completed in the first half of the year." Chicago Bridge & Iron Company (NYSE:CBI) (The Hague, Netherlands) is providing engineering, procurement and construction (EPC) on the project, which has an estimated total investment value (TIV) of $600 million. For more information, see Industrial Info's project report.
AES also is underway on the 1,284-MW combined-cycle repower and unit addition at its Alamitos Power Station in Long Beach, California. The facility also will include 100 MW of lithium-ion battery storage, the output of which AES has contracted to Southern California Edison Southern California Edison (Rosemead, California), a unit of Edison International (NYSE:EIX) (Rosemead). For more information, see August 24, 2017, article - Southern California Repowering Project Includes 100 Megawatts of Electricity Storage. Construction on the gas-fired units began last summer. Gluski said of the project, "Construction is proceeding as planned, and the project is on track to be operational by the first half of 2020. Shortly, we will also begin construction on this site on our long-term contracted, 100-MW, four-hour-duration lithium ion energy storage facility. This project will be the world's largest lithium-ion energy storage facility." Kiewit Engineering & Design Company (Lenexa, Kansas) is providing EPC work on the gas turbines. For more information, see Industrial Info's project reports on the repower, unit addition and lithium-ion storage unit. The facility could also contain a 400-MW gas-fired peaking unit, construction of which remains in the early planning stages. CH2M Hill (Meridian, Colorado) is providing engineering for the project, which could begin construction in early 2020. For more information, see Industrial Info's project report.
On the renewables side, AES is underway with a 60-MW solar photovoltaic (PV) facility near Lancaster, California. Construction on the $160 million project began last summer and is expected to be wrapped up shortly. The facility includes three 20-MW plants, each of which uses 79,363 PV modules and 10 inverters. For more information, see Industrial Info's project report.
Among AES' largest renewables projects is the Alto Maipo hydropower project in Chile. Gluski said, "This 531-MW hydro project has been experiencing significant construction delays and cost overruns. However, ... we have reached a significant milestone toward resolving outstanding issues. Specifically, Alto Maipo negotiated a fixed-price, lump-sum EPC contract with Strabag (Villach, Austria), the project's main contractor for the entire project." Construction on the project began in late 2013, and 38% of the project, which is expected to be complete in 2020, remains. The project has an estimated TIV of $900 million. For more information, see Industrial Info's project reports on the Las Lajas and Alfalfal portions of the project.
AES reported a fourth-quarter 2017 net loss of $1.34 billion, compared with a net loss of $949 million in fourth-quarter 2016. Full-year 2017 brought a net loss of $1.16 billion, compared with a net loss of $1.13 billion in 2016.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Gluski said that AES has 4.4 GW of power projects under construction, most of which are expansions of existing plants.
Among AES' gas-fired projects is the 671-megawatt (MW) Eagle Valley combined-cycle power station in Indiana. Construction on the plant began in the first half of 2015 and is reaching its conclusion. Gluski said, "This plant is now in the commissioning phase and is expected to be completed in the first half of the year." Chicago Bridge & Iron Company (NYSE:CBI) (The Hague, Netherlands) is providing engineering, procurement and construction (EPC) on the project, which has an estimated total investment value (TIV) of $600 million. For more information, see Industrial Info's project report.
AES also is underway on the 1,284-MW combined-cycle repower and unit addition at its Alamitos Power Station in Long Beach, California. The facility also will include 100 MW of lithium-ion battery storage, the output of which AES has contracted to Southern California Edison Southern California Edison (Rosemead, California), a unit of Edison International (NYSE:EIX) (Rosemead). For more information, see August 24, 2017, article - Southern California Repowering Project Includes 100 Megawatts of Electricity Storage. Construction on the gas-fired units began last summer. Gluski said of the project, "Construction is proceeding as planned, and the project is on track to be operational by the first half of 2020. Shortly, we will also begin construction on this site on our long-term contracted, 100-MW, four-hour-duration lithium ion energy storage facility. This project will be the world's largest lithium-ion energy storage facility." Kiewit Engineering & Design Company (Lenexa, Kansas) is providing EPC work on the gas turbines. For more information, see Industrial Info's project reports on the repower, unit addition and lithium-ion storage unit. The facility could also contain a 400-MW gas-fired peaking unit, construction of which remains in the early planning stages. CH2M Hill (Meridian, Colorado) is providing engineering for the project, which could begin construction in early 2020. For more information, see Industrial Info's project report.
On the renewables side, AES is underway with a 60-MW solar photovoltaic (PV) facility near Lancaster, California. Construction on the $160 million project began last summer and is expected to be wrapped up shortly. The facility includes three 20-MW plants, each of which uses 79,363 PV modules and 10 inverters. For more information, see Industrial Info's project report.
Among AES' largest renewables projects is the Alto Maipo hydropower project in Chile. Gluski said, "This 531-MW hydro project has been experiencing significant construction delays and cost overruns. However, ... we have reached a significant milestone toward resolving outstanding issues. Specifically, Alto Maipo negotiated a fixed-price, lump-sum EPC contract with Strabag (Villach, Austria), the project's main contractor for the entire project." Construction on the project began in late 2013, and 38% of the project, which is expected to be complete in 2020, remains. The project has an estimated TIV of $900 million. For more information, see Industrial Info's project reports on the Las Lajas and Alfalfal portions of the project.
AES reported a fourth-quarter 2017 net loss of $1.34 billion, compared with a net loss of $949 million in fourth-quarter 2016. Full-year 2017 brought a net loss of $1.16 billion, compared with a net loss of $1.13 billion in 2016.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
