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ERCOT 2019 Summer Quarter Outlook

LCG, May 29, 2019-- LCG released a new summer (June – September 2019) report that looks at how the ERCOT grid copes with strained network conditions. Resource adequacy analysis for the region is especially important during extreme summer loading conditions. This summer the network is under particular scrutiny as the reserves have tightened because of recent retirements.

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South Field Energy Breaks Ground for 1,182-MW Power Plant

LCG, May 16, 2019--South Field Energy LLC announced yesterday its groundbreaking for an 1,182-MW, combined-cycle electric generating facility in Columbiana County, Ohio. The natural gas-fired facility is scheduled to commence operations in mid-2021 and represents a $1.3 billion investment.

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Industry News

AES to Acquire 600 Megawatt South Africa Plant

LCG, Nov. 9, 2001--AES Corp. said this morning that it and a minority partner, Global African Power, Ltd., have entered into agreements to purchase a 50 percent interest the 600 megawatt coal-fired Kelvin Power Station in the Republic of South Africa for $23 million.

AES said it will own 95 percent of the joint venture that is buying the plant, with GAP having an option to increase its ownership to 13 percent over five years.

The plant, which is located on the outskirts of Johannesburg, will sell it's entire output to City Power Johannesburg Pty Ltd, the distribution company for the City of Johannesburg, under the terms of a 20 year power purchase agreement.

The joint venture is buying the plant from the City of Johannesburg's municipal utility, which will retain a 50 percent interest.

In addition to the purchase price, AES has committed to invest about $15 million in capital to modernize the plant, including pollution control upgrades, and expects to spend another $11 million for worker transition costs over the first three years of operation.

John Stanley-Miller, AES project director, said "This is a good business for AES as we have a 20 year power purchase agreement with a fixed capacity payment, hedged against exchange rate risk and a pass-through on the energy cost. The structure of the contract means that AES does not take either heat rate or fuel price risk".

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