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.
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AES Corporation (NYSE: AES) announces the final remarketing period for its 0% Series A Cumulative Perpetual Convertible Preferred Stock, originally issued in 2021. The company warns that there is no assurance that the Convertible Preferred Stock will be successfully remarketed during this period.
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AES Corporation (NYSE: AES) completed the construction of 3.5 GW of renewable projects in 2023, nearly doubling the capacity compared to 2022. This milestone represents a new record and a growth rate of nearly 100%. The portfolio of renewables now reaches 18.4 GW, with notable projects including solar, wind, and energy storage. The completion of these projects signifies a significant step towards sustainable energy infrastructure and economic benefits for the communities involved.
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The AES Corporation (AES) will host a webcast on January 18, 2024, to discuss data centers and demand for renewable energy. The presentation will cover trends for this customer segment and AES' leading position. Interested parties can access the webcast and presentation materials on the AES website. A webcast replay and downloadable MP3 format will also be available.
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Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) announced an investment in a portfolio of renewable energy assets developed, owned, and operated by The AES Corporation (AES), a Fortune 500 global energy company. The investment involves a structured equity investment in a 605-megawatt portfolio of solar and solar-plus-storage assets across 11 states, with a weighted average remaining contract life of 16 years. The portfolio's cash flows are contracted with a diverse group of predominately investment-grade corporate, utility, and municipal off-takers. This investment expands the longstanding relationship between HASI and AES, demonstrating a commitment to accelerating the energy transition and offering diversification and scale to HASI's balance sheet.
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The AES Corporation (NYSE: AES) has closed minority sell-downs of its businesses in the Dominican Republic and AES Colón business in Panama, raising $338 million in asset sale proceeds. This includes the transactions announced in September for proceeds of $179 million after purchase price adjustments at closing, as well as sell-downs of additional stakes in the businesses through the expansion of existing partnerships with Grupo Estrella and Grupo Popular's subsidiary, AFI Popular, through one of its closed-end funds, for $159 million. AES sold 20% of its businesses in the Dominican Republic and 35% of AES Colón in Panama.
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The AES Corporation (NYSE: AES) has approved a 4% increase in its quarterly common stock dividend, from $0.1659 per share to $0.1725 per share, starting in the first quarter of 2024. The first quarter 2024 dividend of $0.1725 per share will be paid on February 15, 2024, to shareholders of record as of February 1, 2024.
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AM Best affirms A (Excellent) Financial Strength Rating and 'a' Long-Term Issuer Credit Rating of AES Global Insurance Company (AGIC) with stable outlook. AGIC demonstrates strong operating performance and sound risk management capabilities, with implied support from parent company The AES Corporation (AES) [NYSE: AES].
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The AES Corporation (NYSE: AES) has reached an agreement with Se.ven Global Investments to sell its 51% equity stake in the Mong Duong 2 coal-fired plant in Vietnam. The anticipated close for the transaction is in line with AES' intent to exit the majority of its coal assets by the end of 2025. The 1,242 MW plant has been in operation since 2015, delivering power to Hanoi and northern Vietnam under a 25-year Power Purchase Agreement (PPA) with state-owned utility Vietnam Electricity (EVN). AES continues to develop the 450 TBTU Son My LNG terminal with PetroVietnam Gas (PV Gas), which received Investment Policy Approval by Binh Thuan People's Committee in July 2023, and the 2,250 MW Son My 2 combined cycle gas power plant in Vietnam.
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AES Corporation remains on track to deliver on its strategic and financial objectives. They have signed new contracts for 3.7 GW of renewables in 2023 and are on track to complete construction of 3.5 GW of renewables this year. They have also secured $190 million in asset sale proceeds through minority sell-downs of businesses in the Dominican Republic and Panama. The company has been awarded up to $2.4 billion of grant funding by the US Department of Energy for two green hydrogen hubs with AES participation. In Q3 2023, AES reported a diluted EPS of $0.32, compared to $0.59 in Q3 2022, and an adjusted EPS of $0.60, compared to $0.63 in Q3 2022. The company's year-to-date adjusted EPS is $1.03 and they expect full-year adjusted EPS to be in the top half of the guidance range of $1.65 to $1.75. They are reaffirming their annualized adjusted EPS growth target of 7% to 9% through 2025.
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AES receives up to $2.4B in funding for Clean Hydrogen Hubs in California and Gulf Coast
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FAQ
What is the current stock price of AES Corporation (AES)?
The current stock price of AES Corporation (AES) is $13.97 as of November 15, 2024.
What is the market cap of AES Corporation (AES)?
The market cap of AES Corporation (AES) is approximately 9.8B.
What does AES Corporation do?
AES Corporation is a global energy company that provides affordable, sustainable energy solutions through its diverse portfolio, including renewable, gas, coal, and oil generation facilities.
What are AES's recent achievements?
In 2023, AES signed new contracts for 5.6 GW of renewables, completed the construction of 3.5 GW of renewable projects, and achieved revenues of $12.7 billion.
Where does AES operate?
AES operates in 15 countries, serving more than 2.5 million customers worldwide.
What is the focus of AES's business strategy?
AES focuses on delivering sustainable and smarter energy solutions, improving operational efficiency, and partnering with customers on strategic energy transitions.
How many employees does AES have?
AES employs approximately 18,500 people globally.
What are AES's plans for future projects?
AES plans to add 3.6 GW of new projects in 2024 and has a robust backlog of signed contracts totaling 12.7 GW.
How is AES funding its growth?
AES is funding its growth through strategic asset sales, such as the recent sale of its equity interest in AES Brasil, and issuing green notes to finance eligible green projects.
What are AES's financial highlights for 2023?
AES reported 2023 revenues of $12.7 billion, net income of $278 million, and adjusted EBITDA of $2.8 billion.
What renewable energy projects does AES pursue?
AES pursues various renewable energy projects, including solar, wind, and energy storage solutions.
How can investors stay updated on AES's developments?
Investors can stay updated by visiting AES's website, subscribing to their email alerts, and following their press releases, SEC filings, and public conference calls.
AES Corporation
NYSE:AES
AES Rankings
AES Stock Data
9.85B
711.03M
0.48%
100.06%
3.14%
Utilities - Diversified
Cogeneration Services & Small Power Producers
United States of America
ARLINGTON