The acquisition expands AES’ operating capacity in Northern Ireland to 1,868MW. The majority of Ballylumford’s output is contracted to Northern Ireland Electricity and the affiliated agreements allow for a pass-through of fuel costs.
The transaction was subject to license consents from the Northern Ireland Authority for Utility Regulation and the Northern Ireland Department of Enterprise, Trade and Investment.
AES chief operating officer Andres Gluski said that the company is able to pursue this opportunity in large part because of the strength of its liquidity and presence in Northern Ireland.
