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Released November 07, 2019 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Coal-fired plants dominated AES Corporation's (NYSE:AES) (Arlington, Virginia) U.S.-based assets just a decade ago, but the power-generation giant has rapidly moved to natural gas and renewable sources, as evidenced in its lengthy slate of capital-spending projects. The company recently signed a 10-year deal to use Google Incorporated's (NYSE:GOOG) (Menlo Park, California) cloud technology to accelerate its adoption of clean energy. Industrial Info is tracking nearly $13 billion in active projects from AES, more than half of which is attributed to renewable-fueled facilities.
Click on the image at right for a graph detailing active projects from AES, by fuel type.
AES' alliance with Google is intended partly to help it find ways to generate high-volume output for industrial and heavily populated areas from renewable sources. One place that would no doubt be served by such efforts is California, which is pursing efforts to use only clean energy by 2045. Over the summer, the company broke ground on a $120 million battery energy-storage project at the Alamitos Power Station in Long Beach, California, which is adjacent to the same facility's $963 million natural gas-fired, combined-cycle (NGCC) unit construction.
The new unit is expected to generate 642 megawatts (MW) from a pair of combustion turbines and a steam turbine, all provided by General Electric (NYSE:GE) (Boston, Massachusetts). The 400 megawatt-hour battery-based storage system would store power generated during periods of low demand for use when power consumption increases, such as during a heat wave, according to the Long Beach Press-Telegram. For more information, see Industrial Info's reports on the battery-storage and combined-cycle projects.
AES also recently announced that its $500 million combined-cycle overhaul of its power station in Huntington Beach, California, was nearing completion and is set to begin generating energy next year. The 644-MW facility, which also will use GE equipment, will replace a pair of older, less-efficient turbines that are being removed in a $10 million dismantlement. For more information, see Industrial Info's project reports on the new units and demolition.
Solar represents a growing section of AES' portfolio, as exemplified in a series of solar-energy projects in Spotsylvania County, Virginia. The smallest of the three is closest to completion: The $40 million Richmond Spider Solar Plant, which would generate 20 MW from a series of photovoltaic (PV) modules, is set to wrap up in first-quarter 2020. Two larger projects are set to be completed in late 2020 and early 2021, respectively: the $330 million Highlander Solar Station and the $480 million second-phase Pleinmont Solar Farm, which would generate 165 and 240 MW. For more information, see Industrial Info's reports on the Spider, Highlander and Pleinmont projects.
"Approximately 80% of our 6-gigawatt backlog, or 4.8 gigawatts, is renewables, split between hydro, solar, wind and energy storage," said Andrés Gluski, the chief executive officer of AES, in this week's earnings-related conference call. "We expect the majority of our backlog to be online by the end of 2022." He later added that nearly half of all solar projects in the U.S. include a storage component. "Based on our scale and more than 10 years of experience in integrating energy storage, we are very well positioned to capitalize on this growth opportunity."
Wind-generated energy also is a top concern for AES, even in places that typically are regarded as fossil-fuel havens. sPower, a renewable-focused subsidiary, expects to finish construction on its $297 million Prevailing Winds Windfarm in Avon, South Dakota, in third-quarter 2020. It is expected to generate about 220 MW from 30 GE and 31 Vestas wind turbines, and will be supported by a 27-mile, $27 million transmission line that will connect several substations. For more information, see Industrial Info's project reports on the windfarm and power line.
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/.
Click on the image at right for a graph detailing active projects from AES, by fuel type.AES' alliance with Google is intended partly to help it find ways to generate high-volume output for industrial and heavily populated areas from renewable sources. One place that would no doubt be served by such efforts is California, which is pursing efforts to use only clean energy by 2045. Over the summer, the company broke ground on a $120 million battery energy-storage project at the Alamitos Power Station in Long Beach, California, which is adjacent to the same facility's $963 million natural gas-fired, combined-cycle (NGCC) unit construction.
The new unit is expected to generate 642 megawatts (MW) from a pair of combustion turbines and a steam turbine, all provided by General Electric (NYSE:GE) (Boston, Massachusetts). The 400 megawatt-hour battery-based storage system would store power generated during periods of low demand for use when power consumption increases, such as during a heat wave, according to the Long Beach Press-Telegram. For more information, see Industrial Info's reports on the battery-storage and combined-cycle projects.
AES also recently announced that its $500 million combined-cycle overhaul of its power station in Huntington Beach, California, was nearing completion and is set to begin generating energy next year. The 644-MW facility, which also will use GE equipment, will replace a pair of older, less-efficient turbines that are being removed in a $10 million dismantlement. For more information, see Industrial Info's project reports on the new units and demolition.
Solar represents a growing section of AES' portfolio, as exemplified in a series of solar-energy projects in Spotsylvania County, Virginia. The smallest of the three is closest to completion: The $40 million Richmond Spider Solar Plant, which would generate 20 MW from a series of photovoltaic (PV) modules, is set to wrap up in first-quarter 2020. Two larger projects are set to be completed in late 2020 and early 2021, respectively: the $330 million Highlander Solar Station and the $480 million second-phase Pleinmont Solar Farm, which would generate 165 and 240 MW. For more information, see Industrial Info's reports on the Spider, Highlander and Pleinmont projects.
"Approximately 80% of our 6-gigawatt backlog, or 4.8 gigawatts, is renewables, split between hydro, solar, wind and energy storage," said Andrés Gluski, the chief executive officer of AES, in this week's earnings-related conference call. "We expect the majority of our backlog to be online by the end of 2022." He later added that nearly half of all solar projects in the U.S. include a storage component. "Based on our scale and more than 10 years of experience in integrating energy storage, we are very well positioned to capitalize on this growth opportunity."
Wind-generated energy also is a top concern for AES, even in places that typically are regarded as fossil-fuel havens. sPower, a renewable-focused subsidiary, expects to finish construction on its $297 million Prevailing Winds Windfarm in Avon, South Dakota, in third-quarter 2020. It is expected to generate about 220 MW from 30 GE and 31 Vestas wind turbines, and will be supported by a 27-mile, $27 million transmission line that will connect several substations. For more information, see Industrial Info's project reports on the windfarm and power line.
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/.
