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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 Q2 2022 financial results, revealing a diluted EPS of ($0.27), down from $0.03 in Q2 2021, attributed to prior year's gains. Adjusted EPS increased to $0.34, a 10% rise compared to last year, driven by lower tax rates and South American operations. Year-to-date, AES signed 1.6 GW of Power Purchase Agreements (PPAs) and aims to complete 6 GW of renewable projects by 2023. The backlog reached 10.5 GW. The company reaffirms its 2022 adjusted EPS guidance of $1.55 to $1.65 and a 7% to 9% growth target through 2025.
The AES Corporation (NYSE: AES) has declared a quarterly common stock dividend of $0.1580 per share, scheduled for payment on August 15, 2022. Shareholders on record by the close of business on August 1, 2022 will receive this dividend. This action reflects AES' commitment to returning value to its shareholders while navigating the evolving energy landscape. Further details regarding tax treatment and historical dividends are available on AES' official website.
AES Corporation (NYSE: AES) will conduct a conference call on August 5, 2022, at 10:00 a.m. ET to discuss its Q2 2022 financial results. The call will include prepared remarks and a Q&A session, and will be accessible to the media and the public via telephone and webcast. Interested participants can dial 1-844-200-6205 (international +1-929-526-1599) to join. The call's access code is 780498. A replay will be available on the AES website shortly after the event.
AES Corporation (NYSE: AES), in coalition with major US solar developers including Clearway Energy Group, Cypress Creek Renewables, and D.E. Shaw Renewable Investments, has established the US Solar Buyer Consortium. This initiative aims to bolster the domestic solar supply chain through a commitment to purchase over $6 billion worth of solar panels, targeting the procurement of up to 7 GW of solar modules annually starting in 2024. AES's current solar project backlog includes 3.4 GW of new projects from 2022 to 2025, part of a total 10.3 GW backlog across various technologies.
AES and its partners have formed the US Solar Buyer Consortium to purchase 6-7 GW of crystalline silicon solar modules annually. This initiative aims to enhance the domestic solar supply chain and promote American manufacturing. The consortium plans to launch a competitive RFP for manufacturers to establish long-term partnerships starting in 2024, intending to create over 250,000 permanent jobs by 2035. The consortium's efforts align with the goal of achieving net-zero emissions by 2050, while also responding to current supply chain challenges in the solar industry.
AES Corporation (NYSE: AES) announced two renewable energy Power Purchase Agreements (PPAs) with Amazon, supplying 450 MW of solar energy and 225 MW of battery storage in the CAISO market. These projects support Amazon's commitment to 100% renewable energy by 2025 and net-zero carbon by 2040. AES has been recognized as a top developer in clean energy PPAs, signing nearly 5 GW of new agreements globally in 2021. The company collaborates with key partners like Fluence to enhance energy storage solutions.
The AES Corporation (NYSE: AES) reported Q1 2022 earnings, showing a Diluted EPS of $0.16, a significant increase from a loss of $0.22 in Q1 2021. The Adjusted EPS was $0.21, down from $0.28. The company secured 1.1 GW of long-term Power Purchase Agreements, raising its backlog to 10.3 GW, with construction on over 2 GW of renewable projects on schedule. AES reaffirmed its 2022 Adjusted EPS guidance of $1.55 to $1.65 and a growth target of 7% to 9% through 2025.
The AES Corporation (NYSE: AES) will be represented by Executive Vice President and CFO Steve Coughlin and Senior VP and Chief Product Officer Chris Shelton at Citi's 2022 Global Energy, Utilities, and Climate Technology Conference on May 11, 2022, at 9:30 a.m. ET. This event will be a fireside chat open to the media and public via webcast, accessible on the AES website. The company continues to focus on delivering sustainable energy solutions while addressing strategic transitions in the energy sector.
AES Corporation has announced a 20-year renewable energy agreement with Microsoft to power its data centers in California. This partnership aims to help Microsoft achieve its 100/100/0 by 2030 sustainability goal, providing 110 MW AC solar and 55 MW of 4-hour storage from the California Independent System Operator region. AES has made significant strides in clean energy, ranking as the top developer selling to corporations via Power Purchase Agreements (PPAs) in 2021, signing nearly 5 GW of new PPAs globally.
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