OREANDA-NEWS. June 14, 2016. The
AES Corporation (NYSE: AES) announced that it is the recipient of
the Edison Electric Institute’s (EEI) 2016 International Edison Award
for its development and deployment of Advancion® 4, its
fourth generation, grid-scale, battery-based energy storage platform.
This is the Company’s fifth International Edison Award and is a
testament to the work AES’ employees are doing alongside their
suppliers, to provide their customers with innovative and sustainable
energy solutions.
“We are honored to receive this award from EEI, recognizing our
contribution to the development of efficient and cost effective energy
storage,” said Andr?s
Gluski, AES President and Chief Executive Officer. “Nearly a decade
ago, a small team at AES had the idea to create advanced energy storage
using lithium ion batteries. Today, we are the largest operator of
battery-based energy storage in the world, with installations in four
countries and advanced development projects in three more. Advancion is
proven and available to utilities and other energy storage customers to
meet their needs in this rapidly changing energy market.”
Using proven technology from nearly a decade of experience in operating
the largest fleet of battery-based energy storage in the world, AES’
Advancion 4 energy storage solution has been deployed on the Company’s
own platforms and is also available for other utilities, industrial and
commercial customers, independent power producers and power system
operators to deploy.
Since late 2015, AES has deployed Advancion 4 in projects in the United
States, Northern Ireland and the Netherlands and now operates 116 MW of
energy storage projects with an additional 278 MW under construction or
in late stage development. AES’ energy storage platform is improving the
reliability of the electric grid, mitigating the intermittency of
renewable generation and lowering costs to operate the system.
Earlier this year, AES announced agreements with select leading
companies in the power sector, to ensure the global availability of
Advancion. Mitsubishi Corporation and Eaton Corporation are now offering
Advancion as the core of their energy storage platforms to customers in
Asia and Oceania, and Europe, the Middle East and Africa (EMEA),
respectively.
The Edison Award is the electric power industry’s most prestigious honor
and recognizes companies annually for their leadership, innovation and
progress in advancing the industry.
About AES
The AES Corporation (NYSE: AES) is a Fortune 200 global power company.
We provide affordable, sustainable energy to 17 countries through our
diverse portfolio of distribution businesses as well as thermal and
renewable generation facilities. Our workforce of 21,000 people is
committed to operational excellence and meeting the world’s changing
power needs. Our 2015 revenues were \\$15 billion and we own and manage
\\$37 billion in total assets. To learn more, please visit www.aes.com.
Follow AES on Twitter @TheAESCorp.
About AES Energy Storage
AES is a leader in commercial energy storage solutions, which improve
flexibility and reliability of the power system, and provide customers
with a complete alternative to traditional peaking power plants. The
company’s Advancion® 4 energy storage solution is available
for sale to leading utilities, power markets, and independent power
producers, and AES and its partners can manage installations from
concept to operation with a market-proven solution that integrates best
in class battery and power conversion technologies. AES introduced the
first grid-scale advanced battery-based energy storage solution in
commercial operations in 2008 and operates the largest fleet of
battery-based storage assets in service today. AES has a total of 394 MW
of interconnected energy storage, equivalent to 788 MW of flexible
resource, in operation, construction or late stage development in seven
countries. To learn more, please visit www.aesenergystorage.com
or @aes_es
on Twitter.
Safe Harbor Disclosure
This news release contains forward-looking statements within the meaning
of the Securities Act of 1933 and of the Securities Exchange Act of
1934. Such forward-looking statements include, but are not limited to,
those related to future earnings, growth and financial and operating
performance. Forward-looking statements are not intended to be a
guarantee of future results, but instead constitute AES’ current
expectations based on reasonable assumptions. Forecasted financial
information is based on certain material assumptions. These assumptions
include, but are not limited to, our accurate projections of future
interest rates, commodity price and foreign currency pricing, continued
normal levels of operating performance and electricity volume at our
distribution companies and operational performance at our generation
businesses consistent with historical levels, as well as achievements of
planned productivity improvements and incremental growth investments at
normalized investment levels and rates of return consistent with prior
experience.
Actual results could differ materially from those projected in our
forward-looking statements due to risks, uncertainties and other
factors. Important factors that could affect actual results are
discussed in AES’ filings with the Securities and Exchange Commission
(the “SEC”), including, but not limited to, the risks discussed under
Item 1A “Risk Factors” and Item 7: Management’s Discussion & Analysis in
AES’ 2015 Annual Report on Form 10-K and in subsequent reports filed
with the SEC. Readers are encouraged to read AES’ filings to learn more
about the risk factors associated with AES’ business. AES undertakes no
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
Any Stockholder who desires a copy of the Company’s 2015 Annual Report
on Form 10-K dated on or about February 23, 2016 with the SEC may obtain
a copy (excluding Exhibits) without charge by addressing a request to
the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson
Boulevard, Arlington, Virginia 22203. Exhibits also may be requested,
but a charge equal to the reproduction cost thereof will be made. A copy
of the Form 10-K may be obtained by visiting the Company’s website at www.aes.com.
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