AES initiates construction of $340 million AES Andres in Dominican Republic

ARLINGTON, Va., Sept. 28, 2000à‚–The AES Corp. has begun construction on a $340 million electric power plant and liquefied natural gas (LNG) importing facility located in the Dominican Republic.

The wholly owned AES facility, named AES Andres, will be located 30 km east of Santo Domingo, and when completed, will consist of a 300 megawatt gas-fired combined cycle plant co-located with a LNG importing terminal. The power plant will feature a model 501F gas turbine that is being supplied by Mitsubishi Heavy Industries.

LNG for the project will be supplied by BP under a twenty year fuel supply agreement. Chicago Bridge & Iron has been selected to construct the LNG terminal portion of the facility. Construction is expected to take 24 months. Electrical output from AES Andres will be marketed primarily under long term contracts to electric distribution companies in the Dominican Republic.

Other AES businesses in the Dominican Republic include Los Mina, a 210 MW simple cycle electric power station (100 percent owned by AES), and the recently acquired electric distribution company, EDE Este, which serves over 2 million people in the eastern region of the country (50 percent owned by AES).

Sarah Slusser, vice president of AES, said, “AES’s commitment to the Dominican Republic began with our investments in Los Mina and EDE Este. These businesses, coupled with the initiation of the AES Andres power plant and gas terminal, will allow us to reduce the cost of electricity to consumers and continue to provide clean, reliable energy in a socially responsible way. We are proud to be the first company to develop a project of this kind in this hemisphere, outside of the US, and are confident that it will enable us to fulfill our mission to serve the people of the Dominican Republic for many years to come.”

Dennis W. Bakke, president and CEO of AES, stated, “We are very excited about increasing our presence in the Dominican market and are delighted to be the first supplier of natural gas to the country. We feel that this initiative will enhance the economic, social and environmental well-being of the people of the Dominican Republic. AES Andres will introduce fuel diversification to the country and help to significantly reduce their dependence on oil.”

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