4 May 2002 – The AES Corporation announced Monday that it has completed a $45m financing at AES (NI) Ltd, the AES subsidiary that owns the 520 MW dual-fuel Kilroot Power Station in Northern Ireland.
The proceeds of this 9-year facility will be used to further strengthen parent company liquidity.
Paul Hanrahan, Chief Operating Officer, stated, “This transaction and the related transfer of $45m to the parent corporation represent yet another step in AES’s plan to improve its liquidity. The appropriate addition of low-cost, sustainable, non-recourse debt at our subsidiaries is one of many tools we are using to achieve our liquidity goals.”
He noted that Kilroot’s long-term power purchase agreement allowed for competitive financing terms.
AES is a leading global power company comprised of competitive generation, distribution and retail supply businesses in Argentina, Australia, Bangladesh, Brazil, Cameroon, Canada, Chile, China, Colombia, Czech Republic, Dominican Republic, El Salvador, Georgia, Germany, Hungary, India, Italy, Kazakhstan, the Netherlands, Nigeria, Mexico, Oman, Pakistan, Panama, Qatar, South Africa, Sri Lanka, Tanzania, Uganda, Ukraine, the United Kingdom, the United States and Venezuela.
The company’s generating assets include interests in 177 facilities totalling over 59GW of capacity. AES’s electricity distribution network has over 727,000 km of conductor and associated rights of way and sells over 108 000 GWh per year to over 16 million end-use customers.
AES is dedicated to providing electricity worldwide in a socially responsible way.
This news release may include forward-looking statements. Actual events and results may differ materially from those projected. Factors that could affect actual results are discussed in AES’s filings with the Securities and Exchange Commission, and readers are encouraged to read those filings to learn more about the risk factors associated with AES’s businesses.
For more general information visit our web site at www.aes.com or contact investor relations at email@example.com.