AES Corporation - AES STOCK NEWS

The AES Corporation reported strong Q3 2021 results with diluted EPS of $0.48, up from a loss of $0.50 in Q3 2020. The company signed 4 GW of new power purchase agreements (PPAs) year-to-date, raising its renewable backlog to 9.2 GW, while reaffirming 2021 Adjusted EPS guidance of $1.50 to $1.58. Fluence, a joint venture, completed its IPO on October 28, 2021. The company aims for 7% to 9% annual growth through 2025, benefiting from trends in clean energy. However, a non-cash adjustment may affect earnings projections.

The AES Corporation has entered into a 15-year agreement with Microsoft to provide renewable energy for Microsoft's data centers in Virginia. This partnership aligns with Microsoft's goal of 100% renewable energy by 2030, using a portfolio of 576 MW of renewable projects, including wind, solar, and battery storage. The deal will help Microsoft operate its data centers on zero-carbon energy, contributing to a greener internet as 70% of global internet traffic passes through Virginia's data centers. AES's President emphasizes the partnership as a standard-setter for corporate decarbonization.

On October 27, 2021, Fluence Energy, Inc. announced its initial public offering (IPO) pricing, valuing the company at approximately $4.7 billion. A joint venture between AES and Siemens, Fluence aims to enhance energy storage technology globally. The shares are set to trade on Nasdaq under the ticker symbol FLNC beginning October 28, 2021, with the offering closing on November 1, 2021. Upon completion, AES will hold a nearly 35% economic interest in Fluence.

AES Ohio, a subsidiary of The AES Corporation, celebrated the opening of its Smart Operations Center in Dayton, Ohio, on October 26, 2021. This state-of-the-art facility aims to enhance efficiency in electric operations and promote innovative energy solutions across the U.S. The center integrates key performance and remote operations capabilities and is part of AES' commitment to sustainable energy and digital transformation. With over 527,000 customers served in West Central Ohio, AES Ohio remains a leading provider in the region.

The AES Corporation (NYSE: AES) has declared a quarterly common stock dividend of $0.1505 per share. The dividend will be payable on November 15, 2021 to shareholders recorded as of the close of business on November 2, 2021. This announcement reflects AES's commitment to returning value to its shareholders while continuing to focus on energy solutions. Additional details about dividend payments and tax treatment can be accessed on AES's official website.

The AES Corporation (NYSE: AES) has partnered with Google to launch Nest Renew, a service for Nest thermostats. This initiative aims to enhance energy efficiency and support customers' clean energy goals through AES's utilities, AES Indiana and AES Ohio. Nest Renew will allow users to prioritize clean energy use and track their environmental impact, with Nest Renew Premium offering renewable energy credits from US wind and solar projects. This collaboration is part of a 10-year strategic alliance aimed at innovating energy management and decarbonization efforts.

The AES Corporation (NYSE: AES) has scheduled a conference call to discuss its third quarter 2021 financial results on November 4, 2021, at 9:00 AM EDT. This call will include prepared remarks and a Q&A session, accessible to the public via telephone or webcast. Interested participants can dial in starting at 8:50 AM EDT using the access code 171597. A replay of the call will be available on the company's website shortly after the event.

On September 28, 2021, Fluence, a joint venture of The AES Corporation and Siemens, filed a registration statement for an initial public offering (IPO) of its Class A common stock with the SEC. The stock is expected to be listed on the Nasdaq under the symbol FLNC. The specific number of shares and price range are yet to be determined. Until the registration becomes effective, no shares can be sold or offered. This strategic move aims to bolster Fluence's growth in the energy storage sector.

AES Corporation (NYSE: AES) has appointed Stephen Coughlin as its new Executive Vice President and Chief Financial Officer, effective October 15, 2021. Coughlin previously led AES' Corporate Strategy and Financial Planning groups, and served as CEO of Fluence, AES' energy storage joint venture with Siemens. He succeeds Gustavo Pimenta, who is set to join Vale S.A. as CFO. Coughlin's extensive clean energy and finance experience is expected to contribute significantly to AES' leadership team, enhancing its strategic goals in renewables and energy storage.