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June 25, 2014
16:32 EDTAESAES Corp. sells minority stake in Masinloc Power Plant to EGCO Group
The AES Corporation announced that it has entered into an agreement to sell 45% of its interest in Masin-AES Pte Ltd, a wholly-owned subsidiary of AES that owns AESí business interests in the Philippines, to Electricity Generating Public Company Limited, a Thailand-based Independent Power Producer, for $453M. The sale includes indirect stakes in the following: the 630 MW Masinloc coal-fired power plant in operation since 1998; expansion of the existing Masinloc facility; and approximately 60 MW of potential energy storage projects in advanced development. After the sale, AES will own a 51% net stake in Masinloc, EGCO Group will own 41%, and the International Finance Corporation will retain 8%. AES will continue to manage and operate the plant. AES and EGCO Group have agreed to use the Masinloc platform as their exclusive vehicle for growth in the Philippines.
News For AES From The Last 14 Days
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September 2, 2014
14:30 EDTAESAES expects free cash flow growth of 10%-15% annually from FY14-FY18
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14:15 EDTAESAES reaffirms 2014 EPS to be at low end of $1.30-$1.38 range
AES Corp. reiterated in conference presentation slides that its 2014 EPS will be at the low end of its $1.30-$1.38 range due to the impact from adverse hydrology. The consensus EPS estimate is $1.32. AES expects adjusted EPS growth of 4%-6% through 2015 and "faster growth" in 2017-2018. In 2016, AES sees "flat to modest growth," despite an 11c headwind at TietÍ and DPL. The company expects 6%-8% average annual growth in 2017-2018.
August 20, 2014
08:05 EDTAESAES Corp. sells 100% of equity interests in U.K. wind projects for $160M
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