1. AES Closes US$2 Billion in Finance For Gas Plus Energy Storage Project

    AES Closes US$2 Billion in Finance For Gas Plus Energy Storage Project

    AES Corporation has closed US$2 billion in finance for the 1.4GW Southland Repowering Project. The install in southern California encompasses 1,284MW of combined cycle gas capacity and 100MW of battery storage. The remaining US$350 million will be contributed as equity by AES. The company won a competitive tender in 2014 for a 20-year power purchase agreement (PPA) with utility firm Southern California Edison (SCE).

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