AES buys 2 Mexican coke power plants
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ARLINGTON, Va., Feb. 12 AES bought out two coke-fired power plants in Mexico from Exelon and Alstom for about $611 million in total.The power group said the sum includes acquiring equity and debt of the plants totaling $190 million in addition to assuming $421 million in project debt.The Termoelectrica del Golfo, or TEG, and Termoelectrica del Penoles, or TEP, plants supply power to Cemex and Penoles, having been completed in 2004.These assets fit well with AES given our expertise in operating (coke-fired circulating fluidized bed) plants and skills at structuring complex international transactions, said David Gee, president of AES ' s North America region. The company pointed out that Mexico continues to grow rapidly, and by buying the plants, AES will be able to expand its foothold in the country. Copyright 2007 by UPI
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