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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 (NYSE: AES) has signed agreements with the California Department of Water Resources to extend operations of its once-through cooling (OTC) units at the Huntington Beach and Alamitos facilities until 2026. This move aims to enhance grid reliability while supporting California's decarbonization efforts, pending approval from the State Water Resources Control Board. The Southland legacy units boast 2.3 GW of gas generating capacity across three facilities, with operations for all OTC units set to expire in December 2023, except for Huntington Beach and Alamitos, should extensions be granted. AES emphasizes its commitment to flexible energy solutions for local communities amid California's transition toward a zero-carbon energy future.
The AES Corporation (NYSE: AES) has announced an agreement to terminate the Power Purchase Agreement (PPA) for its 205 MW Warrior Run coal-fired power plant in Maryland. The cancellation, valued at $357 million, pending approval from the Maryland Public Service Commission (PSC), is expected to save Potomac Edison customers $80 million over the next seven years. This move aligns with Maryland's decarbonization goals and allows AES to explore low-carbon alternatives for the Warrior Run site. AES will continue operations at the plant until at least May 2024, ensuring a responsible transition for current employees.
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