AES to Help APS Customers Get Solar After Sunset with New 100 MW Energy Storage System

Battery-based energy storage system will deliver cleaner energy to
Arizona customers at times of peak usage

ARLINGTON, Va.–(BUSINESS WIRE)–The
AES Corporation
(NYSE: AES) today announced it was selected by
Arizona Public Service (APS) to deliver a 100 megawatt (MW) 4-hour
duration battery-based energy storage system. The project, owned and
operated by AES, will provide critical peaking capacity and unmatched
operational flexibility, enabling the most efficient use of renewable
energy, lowering costs and emissions, and providing increased
reliability for APS’ customers.

This project demonstrates how technological innovation can help us
deliver on today’s changing energy needs, while having the flexibility
to prioritize customer affordability and reliability. Under a 20-year
agreement, AES will provide APS with the storage capabilities powered by
Fluence’s proven Advancion platform. The project will contribute to a
more sustainable energy future for Arizona through the integration of
more renewables in the state’s energy mix.

“Arizona is realizing its great solar potential. As the state continues
its transition to more sustainable energy sources, customers will
require cost-effective and reliable electricity,” said Andrés
Gluski
, AES President and Chief Executive Officer. “Energy storage
can replace traditional peaking thermal generation to meet peak power
demands while reducing greenhouse gas emissions and maximizing the use
of renewable energy. We look forward to our continued partnership with
APS to help the state and its customers accelerate a greener energy
future through the broader adoption of energy storage.”

The ability for batteries to absorb and discharge power has great value
for regions pursuing high levels of renewable energy, such as Arizona.
The storage system will collect energy when the sun is shining and then
give it back during peak hours when its capacity is needed most by
customers. By releasing solar energy when it has traditionally been
unavailable, customers will have continuous access to a cleaner, more
reliable energy mix.

“By delivering solar after sunset, these projects with AES signal a new
direction for how we can meet our customers’ peak need for energy with
an increasingly clean mix of resources,” said Brad Albert, Vice
President, Resource Management for APS. “This work with AES is also part
of a long-term transition to larger roles for renewable and storage
technologies in Arizona’s energy future.”

This partnership is part of APS’s plan to add nearly one gigawatt of
clean energy projects by 2025. In 2017, AES began operations on
Arizona’s first standalone battery peaker, a 4
MW energy storage system
for APS with enough storage capacity to
power 1,000 homes. The pair of 2 MW Advancion energy storage arrays were
deployed as part of the APS Solar Partner Program (SPP) and deliver
energy to customers at the time of day when electricity is in greatest
demand and most expensive. The existing system has allowed APS to
maintain reliable service for solar customers while the sun is down and
solar panels are not producing power.

The new 100 MW energy storage system is expected to begin operations in
June 2021.

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global power company.
We provide affordable, sustainable energy to 15 countries through our
diverse portfolio of distribution businesses as well as thermal and
renewable generation facilities. Our workforce is committed to
operational excellence and meeting the world’s changing power needs. Our
2017 revenues were $11 billion, and we own and manage $33 billion in
total assets. To learn more, please visit www.aes.com.
Follow AES on Twitter @TheAESCorp.

AES 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
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Actual results could differ materially from those projected in our
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Item 1A “Risk Factors” and Item 7: Management’s Discussion & Analysis in
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as a result of new information, future events or otherwise. Any
Stockholder who desires a copy of the Company’s 2017 Annual Report on
Form 10-K dated on or about February 26, 2018 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. A copy
of the Form 10-K may be obtained by visiting the Company’s website at www.aes.com.

Contacts

The AES Corporation
Investor: Ahmed Pasha 703-682-6451
Media:
Amy Ackerman 703-682-6399

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