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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.
On January 29, 2021, Indianapolis Power & Light Company (IPL), a subsidiary of AES, announced significant expansions to its senior leadership and government affairs teams. Notably, Brandi Davis-Handy becomes chief public relations officer, leading communications in Indiana and Ohio. Aaron Cooper assumes the role of chief commercial officer. Fred Mills, retiring after nearly two decades, was a key leader in government relations. Tom Raga will oversee government affairs, while Courtney Arango is appointed government affairs director. These appointments aim to enhance IPL's capabilities to better serve evolving customer needs.
The AES Corporation (NYSE: AES) has launched the Alamitos battery energy storage system (BESS) in Long Beach, California. This facility, among the largest globally, offers up to 400 MWh of energy to Southern California Edison (SCE), supporting California's aim for 100% carbon-free energy by 2045. The Alamitos BESS will enhance local power reliability during peak demand periods and facilitate renewable energy integration. It operates under a 20-year power purchase agreement with SCE and is a part of AES's commitment to sustainable energy solutions.
The AES Corporation (NYSE: AES) will hold a conference call on February 25, 2021, at 9:00 a.m. EST to discuss its fourth quarter and full-year 2020 financial results. The call is open to the media and the public in a listen-only mode, accessible via telephone and webcast. Interested participants can join by dialing 1-888-317-6003 or +1-412-317-6061 for international callers, using Conference ID 2262772. The call details, including a replay, will be available on the AES website.
The AES Corporation (NYSE: AES) has signed an agreement to sell its 51% stake in the 1,242 MW Mong Duong 2 coal-fired power plant in Vietnam to a US-led consortium. The deal, finalized on December 31, 2020, is expected to close by early 2022, pending necessary approvals. AES's CEO, Andrés Gluski, emphasized the company's commitment to sustainable energy and ongoing projects like the Son My LNG terminal and Son My 2 gas power plant in Vietnam. This move aligns with AES's global strategy to invest in renewable energy and LNG infrastructure.
Fluence has signed a definitive agreement with the Qatar Investment Authority (QIA) for a $125 million investment through a private placement. This investment will enhance Fluence's growth and support the development of its digital and global product offerings. Following the transaction, AES and Siemens will retain approximately 44% ownership each. CEO Manuel Perez Dubuc emphasized that QIA’s involvement will accelerate Fluence's mission to innovate in energy storage, crucial for a decarbonized grid. Fluence aims to leverage its advanced technology to meet global renewable energy demands.
sPower has announced the acquisition of nine solar projects in New York from National Grid Renewables, boosting its renewable energy capacity by approximately 1 gigawatt (GWdc). Six of these projects are in the Article 10 permitting process and are set to begin operations between December 2022 and December 2023. This acquisition coincides with sPower's merger with AES's US clean energy development business, positioning the combined entity as a significant player in the renewable energy market with nearly 150 MWdc operating and over 1 GW development portfolio in New York.
The AES Corporation (NYSE: AES) has announced a 5% increase in its quarterly common stock dividend, raising it from $0.1433 to $0.1505 per share. This change will take effect in the first quarter of 2021, with the dividend payable on February 12, 2021, to shareholders of record as of January 29, 2021.
This increase reflects the company's commitment to shareholder value and confidence in its financial performance.
The AES Corporation (NYSE: AES) announced early tender results for its cash Tender Offers for outstanding senior notes due 2025, 2026, and 2027. As of December 3, 2020, valid tenders included approximately 80.21% of 5.500% notes, 80.16% of 6.000% notes, and 91.65% of 5.125% notes. The Consent Solicitations to amend restrictive covenants were successful, allowing for expedited optional redemption. AES completed $1.8 billion in new senior debt financing, fulfilling the necessary conditions for the Offers. The Tender Offers expire on December 17, 2020, unless extended.
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