AES Acquires Premier Power

16 August 2010 (Last Updated August 16th, 2010 18:30)

AES Ballylumford Holdings, an AES Corporation subsidiary, has acquired Premier Power (PPL) for £102m ($160m). PPL's assets include a 1,246MW natural gas-fired Ballylumford Power Station in County Antrim, Northern Ireland. The acquisition expands AES's operating capacity in the

AES Ballylumford Holdings, an AES Corporation subsidiary, has acquired Premier Power (PPL) for £102m ($160m).

PPL's assets include a 1,246MW natural gas-fired Ballylumford Power Station in County Antrim, Northern Ireland.

The acquisition expands AES's operating capacity in the country to 1,868MW, amounting to 15% of the single electricity market, which covers Northern Ireland and the Republic of Ireland.

The majority of Ballylumford's output is contracted to Northern Ireland Electricity and the affiliated agreements allow for a pass-through of fuel costs.