AES to Help APS Customers Get Solar After Sunset with New 100 MW Energy Storage System
February 21 2019 - 5:00AM
Business Wire
Battery-based energy storage system will
deliver cleaner energy to Arizona customers at times of peak
usage
The AES Corporation (NYSE: AES) today announced it was selected
by Arizona Public Service (APS) to deliver a 100 megawatt (MW)
4-hour duration battery-based energy storage system. The project,
owned and operated by AES, will provide critical peaking capacity
and unmatched operational flexibility, enabling the most efficient
use of renewable energy, lowering costs and emissions, and
providing increased reliability for APS’ customers.
This project demonstrates how technological innovation can help
us deliver on today’s changing energy needs, while having the
flexibility to prioritize customer affordability and reliability.
Under a 20-year agreement, AES will provide APS with the storage
capabilities powered by Fluence’s proven Advancion platform. The
project will contribute to a more sustainable energy future for
Arizona through the integration of more renewables in the state’s
energy mix.
“Arizona is realizing its great solar potential. As the state
continues its transition to more sustainable energy sources,
customers will require cost-effective and reliable electricity,”
said Andrés Gluski, AES President and Chief Executive Officer.
“Energy storage can replace traditional peaking thermal generation
to meet peak power demands while reducing greenhouse gas emissions
and maximizing the use of renewable energy. We look forward to our
continued partnership with APS to help the state and its customers
accelerate a greener energy future through the broader adoption of
energy storage.”
The ability for batteries to absorb and discharge power has
great value for regions pursuing high levels of renewable energy,
such as Arizona. The storage system will collect energy when the
sun is shining and then give it back during peak hours when its
capacity is needed most by customers. By releasing solar energy
when it has traditionally been unavailable, customers will have
continuous access to a cleaner, more reliable energy mix.
“By delivering solar after sunset, these projects with AES
signal a new direction for how we can meet our customers’ peak need
for energy with an increasingly clean mix of resources,” said Brad
Albert, Vice President, Resource Management for APS. “This work
with AES is also part of a long-term transition to larger roles for
renewable and storage technologies in Arizona’s energy future.”
This partnership is part of APS’s plan to add nearly one
gigawatt of clean energy projects by 2025. In 2017, AES began
operations on Arizona’s first standalone battery peaker, a 4 MW
energy storage system for APS with enough storage capacity to power
1,000 homes. The pair of 2 MW Advancion energy storage arrays were
deployed as part of the APS Solar Partner Program (SPP) and deliver
energy to customers at the time of day when electricity is in
greatest demand and most expensive. The existing system has allowed
APS to maintain reliable service for solar customers while the sun
is down and solar panels are not producing power.
The new 100 MW energy storage system is expected to begin
operations in June 2021.
About AES
The AES Corporation (NYSE: AES) is a Fortune 500 global power
company. We provide affordable, sustainable energy to 15 countries
through our diverse portfolio of distribution businesses as well as
thermal and renewable generation facilities. Our workforce is
committed to operational excellence and meeting the world’s
changing power needs. Our 2017 revenues were $11 billion, and we
own and manage $33 billion in total assets. To learn more, please
visit www.aes.com. Follow AES on Twitter @TheAESCorp.
AES 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’ 2017 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 2017 Annual Report
on Form 10-K dated on or about February 26, 2018 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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The AES CorporationInvestor: Ahmed Pasha 703-682-6451Media: Amy
Ackerman 703-682-6399
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