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The AES Corporation (NYSE: AES) is a Fortune 500 global energy company dedicated to accelerating the future of energy. Operating in 15 countries, AES serves more than 2.5 million customers with its diverse portfolio, including over 35 gigawatts of generation capacity, spanning renewable energy (53%), gas (27%), coal (18%), and oil (2%). With a workforce of 18,500 people, AES focuses on delivering affordable, sustainable energy solutions to meet the world's evolving power needs. The company has achieved significant milestones, including signing new contracts for 5.6 GW of renewables in 2023 and completing the construction of 3.5 GW of renewable projects the same year. AES's financial performance is robust, with 2023 revenues of $12.7 billion and adjusted EBITDA of $2.8 billion. Recent strategic moves include the sale of its 47.3% equity interest in AES Brasil for approximately $640 million and a $950 million issuance of green notes to fund eligible green projects. AES continues to solidify its position as a leader in providing smarter, greener energy solutions through innovation, operational excellence, and strategic partnerships. For more information, visit www.aes.com.
The AES Corporation (NYSE: AES) will hold a conference call on August 5, 2021, at 9:00 a.m. EDT to discuss its Q2 2021 financial results. This event will be accessible to the public via telephone and webcast. Participants can listen by calling 1-888-317-6003 or +1-412-317-6061 for international calls, with the Conference ID 0382752. A replay will be available after the call on the AES website. The company emphasizes its commitment to delivering innovative energy solutions, improving lives, and fostering operational excellence.
The AES Corporation (NYSE: AES) has announced a partnership with Uplight to enhance customer engagement and energy management. This collaboration aims to accelerate the transition to a cleaner energy future by utilizing Uplight’s Connect Platform, which leverages extensive energy data and machine learning. AES plans to roll out over 15 solutions from Uplight, offering personalized energy insights to help customers save money and participate in low-carbon initiatives. The partnership is set to innovate new products and deepen customer-centric services over the next five years.
AES Ohio has achieved a significant milestone with the approval of its settlement agreement by the Public Utility Commission of Ohio. This enables a $249 million investment in smart grid technology over four years, enhancing reliability and customer service. The plan includes upgrading to smart meters, creating a self-healing grid, and offering rebate programs for electric vehicle equipment. Despite a minimal expected monthly bill increase of $0.94, AES Ohio maintains the lowest residential rates among Ohio's investor-owned utilities, promising substantial customer benefits.
AES Indiana has received approval from the Indiana Utility Regulatory Commission to acquire the Hardy Hills solar project, a 195-megawatt initiative in Clinton County, Ind. This project will contribute to AES Indiana's transition towards renewable energy, aiming for construction to begin in fall 2021 and commercial operation by 2023. It is projected to power over 30,000 homes during peak hours and will create 200 temporary construction jobs. The investment is expected to offer long-term savings, enhance reliability, and improve sustainability performance for customers.
AES Corporation reported Q1 2021 results, revealing a diluted EPS of ($0.22), down from $0.22 in Q1 2020, primarily due to increased impairment expenses. The company reaffirmed its adjusted EPS guidance for 2021 at $1.50 to $1.58 and average annual growth target of 7% to 9% through 2025. Notably, AES signed 1,088 MW of new renewable PPAs, including a significant agreement with Google for 500 MW of carbon-free energy in Virginia. AES also secured a 20-year agreement for excess LNG capacity in Central America, strengthening its position in clean energy and innovative solutions.
The AES Corporation (NYSE: AES) has signed a groundbreaking 10-year agreement to provide 24/7 carbon-free energy to Google's data centers in Virginia. This partnership is a significant step towards Google's goal of achieving 100% carbon-free energy by 2030, ensuring that 90% of the energy supplied is carbon-free on an hourly basis. AES will source energy from renewable resources including wind, solar, and hydro, requiring an investment of approximately $600 million and generating 1,200 jobs in the local community.
The AES Corporation (NYSE: AES) has been notified of an unsolicited mini-tender offer from TRC Capital Investment Corporation to acquire approximately 4 million shares of AES stock at $26.50 per share, representing a 6.6% discount from the April 14 closing price of $28.37. AES does not endorse this offer and advises stockholders to reject it, emphasizing the risks of selling shares below market value. AES urges investors to consult their brokers and cautions against TRC's conditions for the offer, which include financing requirements.
The AES Corporation (NYSE: AES) declared a quarterly common stock dividend of $0.1505 per share, payable on May 14, 2021, for shareholders of record by April 30, 2021. This dividend reflects the company's commitment to returning value to its shareholders while navigating the current energy landscape. Future earnings, growth, and performance remain subject to uncertainties related to factors such as the COVID-19 pandemic and commodity pricing. Investors can find additional information regarding dividends on www.aes.com.
The AES Corporation (NYSE: AES) will conduct a conference call on May 6, 2021, at 9:00 a.m. EDT to discuss its first quarter 2021 financial results. The call will be available to the public via telephone and webcast, with a Conference ID of 1761206. Interested listeners can dial 1-888-317-6003 (U.S.) or +1-412-317-6061 (international) to join. A replay will be accessible on the AES website after the call. This event will cover prepared remarks, followed by a Q&A session.
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