International power producer AES Corp. announced a plan to scarfup the assets of Thermo Ecotek Corp., a subsidiary of ThermoElectron Corp. of Waltham, MA, for $195 million in cash, plusadditional closing adjustments that currently amount to another $15million. Thermo Ecotek builds and operates power plants and ownsgas storage assets. Its portfolio includes 516 MW of gas-fired,biomass-fired (agricultural and wood waste), and coal-fired powerplants in the United States, the Czech Republic, and Germany, aswell as a natural gas storage project in the United State and over1,250 MW of advanced development power projects in the UnitedStates. The transaction is likely close during the third quarter.

AES CEO Dennis W. Bakke noted the deal will bring AES fivefuel-fired plants in the United States at a time when gas priceshave strongly driven up prices in the wholesale electricitymarkets.

AES own 160 generating facilities, totaling more than 54gigawatts of capacity. Its electricity distribution network hasover 572 miles of conductor and associated rights of way and sellsover 126,000 GWh per year to over 17 million end-use customers. Inaddition, through its various retail electricity supply businesses,the company sells electricity to over 154,000 end-use customers.

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