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AES quits power generation business in UK and Jordan

AES Corp. is exiting its operations in the UK and Jordan by selling thermal, solar and energy storage assets.

Virginia-based AES says the agreements should reap $211m total proceeds. In Jordan, the company is selling its stakes two operational thermal plants and one solar plant under construction, totaling 683 MW in capacity, to Qatar-based Nebras Power Investment Management B.V.

The deal in the UK will transfer controlling interests in two thermal plants and one energy storage facility to Energetický a Průmyslový Holding (EPH) of the Czech Republic. Those UK generation facilities total 1419 MW in capacity.

“We are proud of our many years of successful operations in Jordan and the United Kingdom,” said Andrés Gluski, AES President and chief executive. “In line with our business strategy, we continue to reduce the number of countries in which we operate and focus our growth efforts in fewer markets, and especially in renewables, energy storage and LNG.”

These transactions are expected to close later this year. The sale in Jordan is subject to approvals from project lenders and the sale in the United Kingdom is subject to regulatory approval by the European Commission.

In Jordan, AES agreed to sell its 36 percent interest in the 381 MW Amman East gas-fired power plant, the 250 MW IPP4 oil-fired power plant and the 52 MW AM Solar project, which is currently under construction. In the United Kingdom, AES agreed to sell its 100 percent interest in the 708 MW Ballylumford gas-fired power plant and its 99 percent interest in the 701 MW Kilroot coal- and oil-fired power plant, as well as the 10 MW Kilroot Energy Storage facility.

AES will still have operations in more than a dozen countries.