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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.
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.
AES Indiana, a subsidiary of AES Corporation, will provide renewable energy for the NCAA Division I Men's Basketball Championship in Indianapolis. The company plans to purchase renewable energy credits to cover over 2.1 million kilowatt hours of energy used during the tournament at several prominent venues, equating to the energy needs of approximately 2,200 households for a month. AES Indiana aims to create a carbon-neutral event, reflecting its commitment to sustainable energy solutions.
AES Corporation (NYSE: AES) announced the pricing of its offering of 10,000,000 Equity Units, raising approximately $1 billion. The offering, part of its existing shelf registration, includes 1,000,000 shares of 0% Series A Convertible Preferred Stock and contracts to purchase common stock. The purchase contracts are set to settle on February 15, 2024. The gross proceeds will support the company's renewable energy initiatives and other developments. The underwriters have a 1,500,000-unit over-allotment option. This offering is expected to close on March 11, 2021.
The AES Corporation (NYSE: AES) announced a public offering of 10 million Equity Units, each priced at $100. The offering includes 1 million shares of Series A Cumulative Perpetual Convertible Preferred Stock with a liquidation preference of $1 billion and contracts to buy common stock. The expected delivery date is February 15, 2024. Proceeds will support AES's renewables and utility businesses. The underwriters may purchase an additional 1.5 million Units to cover over-allotments.
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