AES

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AES Corporation (NYSE: AES) is a Fortune 500 global power company headquartered in Arlington, Virginia. Founded in 1981, AES is focused on accelerating the future of energy by delivering greener, smarter energy solutions worldwide.

AES operates across four strategic business units: Renewables, which includes solar, wind, energy storage, and other clean energy technologies; Utilities, encompassing AES Indiana, AES Ohio, and AES El Salvador; Energy Infrastructure, covering natural gas, LNG, and legacy thermal generation assets; and New Energy Technologies, which develops green hydrogen, energy storage solutions through Fluence, and other innovative technologies.

As of February 2024, AES had a renewables backlog of 12.3 GW, including 5.1 GW under construction. The company completed construction of 3.5 GW of renewable energy projects in 2023, doubling its additions from the previous year. AES aims to add 3.6 GW of new capacity to its operating portfolio in 2024 and sign 14-17 GW of new renewables contracts from 2023 through 2025.

AES has made significant strides in its transition to cleaner energy sources. The company has exited or announced the sale/closure of 2.1 GW of coal generation capacity in Vietnam, the US, and Chile. AES is also investing in emerging technologies, having been awarded up to USD 2.4 billion in grant funding from the US Department of Energy for two green hydrogen hubs.

For the fiscal year 2023, AES reported adjusted earnings per share of USD 1.76 and adjusted EBITDA of USD 2,812 million. The company has initiated 2024 guidance for adjusted EPS of USD 1.87 to USD 1.97 and adjusted EBITDA of USD 2,600 to USD 2,900 million. AES has raised its annualized growth target to 7-9% through 2027, reflecting confidence in its strategy and market position.

HQ Location:
4300 Wilson Boulevard 11th Floor Arlington Virginia Beach VA USA
Founded year:
1981
Employees:
10,000+
Current-gen renewables
Current-gen renewables
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