AES Corp has purchased three power stations with a combined generating capacity of 3956 MW in southern California. The three plants were bought from Southern California Edison.
The three generating stations are all natural gas fired installations. They are Alamitos (Long Beach), Huntingdon Beach and Redondo Beach.
The cost of the deal was around $781 million. The project is being financed with a package loans from a syndicate of banks led by Credit Suisse First Boston.
Gas for the plants will be provided by Williams Energy Services Co. The same company will buy and market the power from the three stations. In order to comply with the California electricity restructuring law, Southern California Edison will operate and maintain the plants for two years, after which AES will take over operational control.
