Welcome to our dedicated page for AES Corporation news (Ticker: AES), a resource for investors and traders seeking the latest updates and insights on AES Corporation stock.
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 October 29, 2020, Indianapolis Power & Light Company (IPL), a subsidiary of AES Corporation, appointed Kristina Lund as president and CEO. Lund brings nearly 15 years of experience at AES, most recently serving as Chief Product Officer for carbon-free energy. She aims to enhance customer value through innovative digital solutions and lead a $1.2 billion grid modernization plan. Lisa Krueger will transition to Executive Chairman, overseeing strategic growth for IPL and its parent company. This leadership change is expected to further improve service for IPL's 500,000 customers.
Dayton Power & Light Company (DP&L), a subsidiary of The AES Corporation (NYSE: AES), has appointed Kristina Lund as its new president and CEO. DP&L serves approximately 527,000 customers in west central Ohio. Lund, a senior energy executive with nearly 15 years at AES, aims to lead DP&L through digital transformations and improve customer value. She emphasizes investments in technology and infrastructure, including a recently filed smart grid settlement. Lisa Krueger will become Executive Chairman of DP&L's board, continuing to lead strategic growth.
The AES Corporation (NYSE: AES) has launched a new brand signifying its leadership in the clean energy sector and unveiled new product offerings to assist organizations in achieving their energy goals. AES is a key player in the renewable energy market, adding 2 to 3 gigawatts (GW) annually and has a backlog of 6 GW in projects. The new branding underscores AES's commitment to technological innovation in the energy industry and partnering with customers like Kaua'i Island Utility Cooperative to promote sustainability.
Dayton Power & Light Company (DP&L), a subsidiary of AES, has proposed a $249 million investment plan to modernize the electric grid over the next four years. This plan aims to provide customers with enhanced reliability, efficiency, and value through a Smart Grid Plan. Supported by a coalition of stakeholders, the Stipulation outlines the adoption of advanced metering infrastructure, self-healing technology, and rebate programs for electric vehicle charging. If approved, the average residential bill adjustment will be approximately $0.94 monthly, further improving customer experience.
The AES Corporation has declared a quarterly dividend of $0.1433 per share, payable on November 16, 2020, to shareholders on record by October 30, 2020. This reflects the company's commitment to returning value to its shareholders amid its operations across 14 countries. With 2019 revenues of $10 billion and assets totaling $34 billion, AES emphasizes sustainability in energy provision and operational excellence.
The AES Corporation (NYSE: AES) will hold a conference call on November 6, 2020 at 9:00 a.m. EST to review its third quarter 2020 financial results. The call will feature prepared remarks and a question-and-answer session and will be accessible to the public via telephone and webcast. Participants can join by dialing 1-888-317-6003 or +1-412-317-6061 for international calls. The Conference ID is 2751417. A replay of the call will be available on the AES website shortly after the event.
Dayton Power & Light Company, a subsidiary of AES Corporation, announced the opening of the first Smart Operations Center in the US, located in Dayton, Ohio. This facility aims to enhance electric operations efficiency using advanced data technology, consolidating AES' Global Performance Monitoring and Analytics Center with its Remote Operations and Control Center. The center represents AES' commitment to digital transformation and job creation in Ohio, positioning the company to lead in sustainable energy solutions.
Indianapolis Power & Light Company (IPL) has reached a settlement with the EPA, DOJ, and IDEM to resolve Clean Air Act violations. This agreement aims to enhance pollution control and reduce emissions. IPL will invest $5 million in a non-emitting generation source at Petersburg Generating Station and donate ecologically significant lands. The settlement includes stringent emissions limits and is subject to court approval after a public comment period. IPL's measures over the past decade have significantly decreased harmful emissions, aligning with its integrated resource plan for affordable and diverse energy solutions.
Dayton Power & Light Company (DP&L), a subsidiary of The AES Corporation (NYSE: AES), has announced new extended payment options to assist customers facing financial difficulties due to the COVID-19 pandemic. Customers may choose from various extended payment plans, including options for residential and business accounts. The company previously suspended disconnections and late fees during the pandemic. As DP&L returns to standard operations on September 1, disconnection notifications will start on August 17, with late fees reinstated simultaneously.
The AES Corporation announced the early termination of two Power Purchase Agreements (PPAs) with its subsidiary, AES Gener, related to the Angamos coal-fired plant in Chile. This agreement allows AES Gener to accelerate payments totaling $720 million this year, reflecting the present value of fixed charges through 2029. The company plans to use approximately $200 million of these proceeds to fund renewable projects after debt repayment. AES reaffirms its 2020 guidance and growth targets through 2022, continuing its commitment to decarbonization.
FAQ
What is the current stock price of AES Corporation (AES)?
What is the market cap of AES Corporation (AES)?
What does AES Corporation do?
What are AES's recent achievements?
Where does AES operate?
What is the focus of AES's business strategy?
How many employees does AES have?
What are AES's plans for future projects?
How is AES funding its growth?
What are AES's financial highlights for 2023?
What renewable energy projects does AES pursue?
How can investors stay updated on AES's developments?
