AES Powers Up in Mexico

Global power company AES may be out of Venezuela but it has just agreed to pay $611 million to buy two power generation facilities in Mexico from subsidiaries of Exelon Corporation and Alstom. According to the Virginia-based company, the plants – Termoelectrica del Golfo (TEG) and Termoelectrica del Penoles (TEP) – supply power to Cemex and Penoles, respectively, under 20-year agreements. “The acquisition of these two plants enables AES to expand our strong platform in Mexico,” said Mark Woodruff, AES vice president of North America Development.