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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 reported its financial results for 2020, achieving a diluted EPS of $0.06, down from $0.45 in 2019. However, the adjusted EPS rose to $1.44, surpassing the previous year's $1.36. The company signed new PPAs for 3 GW of renewables, increasing its backlog to 6.9 GW. Notably, it reduced coal generation to 25% of total generation. For 2021, AES anticipates an adjusted EPS between $1.50 and $1.58. The company focuses on sustainable solutions, maintaining its leading position in the energy storage market through Fluence.
The AES Corporation (NYSE: AES) announced the closure of $154.2 million in non-recourse debt financing for the Luna Storage project, a 400-megawatt hour lithium-ion battery storage initiative in Lancaster, California. This financing, one of the largest for standalone battery storage, was facilitated by KeyBanc Capital Markets and others. The project is set to help integrate renewable energy into the grid, ensuring greater reliability for Clean Power Alliance customers. The Luna Storage facility expects to start operations later in 2021.
The AES Corporation (NYSE: AES) will host a virtual Investor Day on March 3, 2021, at 9:00 a.m. EST, focusing on its strategy and financial outlook. The event aims to provide insights into AES's approach to delivering greener energy solutions. Participants can listen via telephone or webcast, with access details provided. A replay will be available post-event on AES's website. This gathering highlights AES's commitment to operational excellence and innovation in energy solutions, empowering stakeholders to engage in the company’s strategic energy transitions.
Indianapolis Power & Light Company (IPL), a subsidiary of AES Corporation (NYSE: AES), has announced the acquisition of a 195 megawatt solar project in Clinton County, Indiana. Managed by Invenergy, the project will be operational by 2023, generating sufficient electricity to power over 30,000 homes. This acquisition aims to diversify IPL's electric generation portfolio and is projected to create 200 temporary construction jobs. The deal awaits approval from the Indiana Utility Regulatory Commission.
The Dayton Power and Light Company (DP&L), a subsidiary of AES (NYSE: AES), announced several senior leadership changes to enhance its service capabilities. Tom Raga will expand his role to lead government affairs for AES US Utilities in Ohio and Indiana. Aaron Cooper has been appointed as Chief Commercial Officer, having over 30 years of experience in the utility sector. Brandi Davis-Handy joins as Chief Public Relations Officer, bringing two decades of communications experience. These changes are part of DP&L's strategy to innovate and improve customer service.
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.
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