AES - AES terminates PPA agreement in Maryland
2023-04-18 17:34:01 ET
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The AES Corporation ( NYSE: AES ) will terminate a power purchase agreement for its 205 MW Warrior Run coal-fired power plant in Maryland, the company said on Tuesday.
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AES said Potomac Edison, a unit of FirstEnergy, agreed to the PPA termination for $357 million.
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"Following the contract termination, we see interesting opportunities to repurpose the Warrior Run site for low carbon solutions that continue to serve local communities," AES CEO Andrés Gluski said.
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AES said it will continue to operate the Warrior Run plant through at least May 2024, and will maintain full operational control of the site following decommissioning.
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AES terminates PPA agreement in Maryland