press-release-details

Press Release Details

Ninety-Five Percent of AES Gener's Capacity Serving the Chilean Market is Operational Following Earthquakes

Mar 22, 2010

ARLINGTON, Va., Mar 22, 2010 -- The AES Corporation (NYSE: AES) today provided an update on its operations in Chile following the earthquake on February 27, 2010 and subsequent aftershocks. AES Gener, a 71 percent owned subsidiary of AES Corporation, continues to meet 100 percent of its current energy obligations in Chile.

AES Gener has inspected all facilities for damage from the earthquake and repairs have been largely completed. As of March 22, 95 percent, or 2,975 MW of 3,129 MW, of AES Gener's total capacity serving the Chilean market is operational. At any given time, certain facilities are not operational due to dispatch priorities or regularly scheduled maintenance. The 100 MW Renca plant will continue to undergo repairs and is one of the facilities that would not have otherwise been operational. In addition, the 55 MW Laguna Verde facility, which was not affected by the earthquake, is undergoing scheduled maintenance. AES Gener's construction sites, the 518 MW Angamos, 152 MW Guacolda 4 and 270 MW Campiche facilities, were not affected by the earthquake or subsequent aftershocks.

AES Gener has a total of 3,129 MW of capacity to serve the Chilean market and an additional 1,000 MW of hydro capacity in Colombia. Of the total 3,129 MW of capacity to serve Chile, 920 MW operate in the northern interconnected grid (SING) which was not affected by the earthquake. This number includes the 643 MW Termoandes facility, which is located in Argentina and provides a portion of its power to the Chilean market. AES Gener operates 2,209 MW in the central interconnect grid (SIC), mainly in the central portion of the country near Santiago. AES and AES Gener will provide more information on the changes in demand level when the companies disclose their first quarter 2010 earnings.

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global power company with generation and distribution businesses. Through our diverse portfolio of thermal and renewable fuel sources, we safely provide affordable and sustainable energy in 29 countries. Our workforce of 27,000 people is committed to operational excellence and meeting the world's changing power needs. Our 2009 revenues were $14 billion and we own and manage $40 billion in total assets. To learn more, please visit www.aes.com.

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as achievements of planned productivity improvements and incremental growth investments at normalized investment levels and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES' filings with the Securities and Exchange Commission, including, but not limited to, the risks discussed under Item 1A "Risk Factors" in AES' 2009 Annual Report on Form 10-K. Readers are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Any Stockholder who desires a copy of the Company's 2009 Annual Report on Form 10-K filed on or about February 25, 2010 with the SEC may obtain a copy (excluding Exhibits) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. Stockholders may also obtain a copy by visiting the Company's website at www.aes.com.

SOURCE: The AES Corporation

The AES Corporation
Media:
Meghan Dotter, 703-682-6670
or
Investor:
Ahmed Pasha, 703-682-6451

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