The contract, split into a product delivery component and a design, technical assistance, monitoring component will be implemented in two phases up until September 2004.

Phase 1 of the contract is valued at $4 million and involves the delivery of 320 power conditioners, due to be completed around March 2004. The agreement involves a down payment of 20%.

Phase 2, valued at $2.2 million is for the delivery of 165 power conditioners over the six months leading up to July 2004. The company said the contract will contribute significantly to its 2003/2004 profitability and will also strongly assist AES in its launch of a new range of compact power conditioners, where significant volume orders are anticipated in the next two financial years.

Due to various confidentiality clauses AES is not able to release a range of specific details on this contract until August 2003.