AES Selects Mitsubishi-GS Yuasa and Parker-Hannifin to Supply Battery Energy Storage System

  AES Selects Mitsubishi-GS Yuasa and Parker-Hannifin to Supply Battery Energy
  Storage System

 New Hybrid Electric Power Generating Plant Will Serve Chile’s Northern Grid

Business Wire

SANTIAGO, Chile & ARLINGTON, Va. -- December 06, 2012

AES Gener and AES Energy Storage today announced the selection of
Parker-Hannifin to supply advanced battery energy storage systems for their
new Cochrane power station. The battery energy storage system will be supplied
by Mitsubishi Corporation with the lithium ion battery module manufactured by
GS Yuasa and the lithium ion battery cells by Lithium Energy Japan, a joint
venture of Mitsubishi Corporation and GS Yuasa. The project is the companies’
third energy storage facility in Northern Chile, integrating 20MW of advanced
battery-based energy storage with a 532MW thermal power plant. The project is
owned by AES Gener, the second largest power generator in the country, and
Mitsubishi Corporation.

“We are pleased to announce our relationship with Mitsubishi Corporation and
GS Yuasa, leading suppliers of advanced batteries and to continue working with
Parker, a leader in power conversion systems,” said Chris Shelton, President
of AES Energy Storage. “These are strong partners among a robust global supply
chain for energy storage.”

“We are very excited about this addition of the battery storage system to our
Cochrane power station. We already have battery energy storage systems in our
Angamos and Norgener power plants. It will be good for the supply of power in
the northern grid, and also for the stability of the system,” said Felipe
Cerón, CEO of AES Gener S.A.

The Cochrane facility being developed by AES Gener, will incorporate AES
Energy Storage’s Advanced Reserves product including patented controls, a
highly reliable modular system architecture, and industry leading operational
support. The advanced lithium-ion battery modules for the project will be
supplied by GS Yuasa, a world’s leading manufacturer of batteries, and the
battery cells will be supplied by Lithium Energy Japan, a leading lithium ion
battery manufacturer who supplies large capacity cells to Automotive and
Industrial Application from its world’s first mass production plant. The Grid
Services division of Parker-Hannifin will provide power conversion and
system-level services. The battery energy storage systems in combination with
the energy produced by the Cochrane generating station will provide
responsive, reliable power in the Northern Grid.

“It is our great honor to cooperate with AES, a leader in grid storage,” said
Masaji Santo, Senior Vice President, Division COO of Environment and
Infrastructure Business Division of Mitsubishi Corporation. “We look forward
to working with AES in scaling up new systems to serve reliability and peak
power needs throughout the industry.”

“AES brings innovative solutions through their deep understanding of the
utility power sector,” said Jim Hoelscher, President, Grid Systems for
Parker-Hannifin. “We look forward to working on another storage project in
Chile and to continuing the work with AES though our new global Grid Systems
division.”

AES Gener and AES Energy Storage have previously developed energy storage
projects at the Norgener and Angamos power stations. The first of these, the
Los Andes Battery Energy Storage System (BESS) has been delivering grid
reliability services since 2009.

For more information about AES Gener, please visit www.aes.com

For more information about AES Energy Storage, please visit
www.aesenergystorage.com.

About AES Gener

AES Gener’s principal business is the generation of electricity in the long
term, having achieved leadership in Chile based on its installed capacity,
diversification and integration of broad business sustainability. At present,
AES Gener has total installed capacity of 4,821 MW which includes
hydroelectric, coal, natural gas, diesel and biomass plants. In Chile, the
Company operates in the Central Interconnected System (SIC) and the Northern
Interconnected System (SING), accounting for 21% of the installed capacity in
the country. AES Gener also operates in Colombia, through AES Chivor, and
Argentina, through TermoAndes S.A. The Company is currently constructing new
generation plants (Ventanas IV) which will contribute additional capacity of
272 MW to the Chilean electric market and also holds environmental permits for
new plants such as Alto Maipo, Cochrane, Guacolda V and Los Robles. AES Gener
has more than 1,100 employees. AES Gener is owned 71% by AES Corp, an
international power company with presence in 27 countries.

About AES Energy Storage

AES Energy Storage is a subsidiary of the AES Corporation (NYSE: AES), a
company that has served utility customers around the world for 30 years,
helping them to deliver safe, reliable power. The company is a leader in
commercial energy storage partnerships, which enable utilities, power markets
and renewable developers to manage projects from concept to operation. The
company’s energy storage products unlock value from existing power
infrastructure liberating reserve capacity,enabling renewable facilities to
generate new revenue streams, improving flexibility and reliability of the
power system, and meeting peak power demand. With 72MW online, AES Energy
Storage has the largest fleet of battery-based storage projects in commercial
operation today. The company has over 1,000MW in development with partners in
the US and abroad. To learn more, please visit www.aesenergystorage.com.

About Parker Hannifin Corporation

With annual sales exceeding $13 billion in fiscal year 2012, Parker Hannifin
is the world's leading diversified manufacturer of motion and control
technologies and systems, providing precision-engineered solutions for a wide
variety of mobile, industrial and aerospace markets. The company employs
approximately 60,000 people in 48 countries around the world. Parker has
increased its annual dividends paid to shareholders for 56 consecutive fiscal
years, among the top five longest-running dividend-increase records in the S&P
500 index. For more information, visit the company's web site at
www.parker.com, or its investor information web site at www.phstock.com.

About Mitsubishi Corporation

Mitsubishi Corporation is a global integrated business enterprise that
develops and operates business across virtually every industry including
industrial finance, energy, metals, machinery, chemicals, foods and
environmental business. MC’s current activities are expanding far beyond its
traditional trading operations as its diverse business ranges from natural
resource development to investment in retail business, infrastructure,
financial products and manufacturing of industrial goods. With over 200
Offices & Subsidiaries in approximately 90 countries worldwide and a network
of over 500 group companies, MC employs a multinational workforce of nearly
60,000 people. To learn more, please visit www.mitsubishicorp.com/jp/en/

Contact:

Text 100
Kristin D’Ambrosio, 212-331-8414
Kristin.dambrosio@text100.com
 
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