Announcement • Jul 30
The AES Corporation Launches First Ai-Enabled Solar Installation Robot The AES Corporation introduced Maximo, a groundbreaking, AI-powered robot that enhances solar installation speed, efficiency and safety. Maximo is a first-of-its-kind robotic solution that works alongside construction teams to help meet rapidly growing renewable energy demand. According to the IEA, by 2035, solar annual additions are expected to triple, and the workforce will need to nearly double. Maximo can install solar panels in half the time and half the cost, working together with on-the-ground crews to accelerate renewable energy deployment, reducing time-to-power for customers. Maximo enhances the safety and scalability of solar installation by automating the heavy lifting for placing and attaching solar modules. It accelerates project timelines, creates new high-tech jobs and brings opportunities to new segments of the workforce. Maximo expands job opportunities in solar installation, while providing individuals the experience to develop AI skills and learn emerging technologies. Maximo has already installed nearly 10 MW of solar and is projected to install 100 MW by 2025. AES expects to use Maximo to help build up to 5 GW of its solar backlog and pipeline over the next three years. AES will utilize Maximo in its construction of the 2 GW Bellefield project in Kern County, California, the solar-plus-storage project in the US, under contract with Amazon. Oak Ridge Solar project in Louisiana, also helping power Amazon operations, was a significant milestone in Maximo's journey as its first utility-scale deployment. Maximo's AI-powered features include: AI-Powered Computer Vision: Ensures precise panel placement, enhancing installation accuracy. Continuous Learning: Adapting for optimal performance and driving efficiency improvements. Image reconstruction: Proprietary generative AI pipeline that reconstructs images obscured by glare or related lighting conditions. Maximo can perform in a broad range of climates and lighting conditions and has been validated in the field across a variety of US project sites. It will begin installing at Bellefield in August. Announcement • Jul 13
The AES Corporation Declares Quarterly Dividend, Payable on August 15, 2024 The AES Corporation declared a quarterly common stock dividend of $0.1725 per share payable on August 15, 2024 to shareholders of record at the close of business on August 1, 2024. Announcement • Feb 28
The AES Corporation Expects to Grow Its Dividend Annually After 2024 The AES Corporation provided annual dividend guidance. The Company expected to grow its dividend by 2% to 3% annually after 2024, reflecting a larger pool of attractive investment opportunities and to minimize equity issuance as a source of capital. Announcement • Feb 24
The AES Corporation Announces Quarterly Dividend, Payable on May 15, 2024 The Board of Directors of The AES Corporation declared a quarterly common stock dividend of $0.1725 per share payable on May 15, 2024 to shareholders of record at the close of business on May 1, 2024. Announcement • Jan 19
The AES Corporation Appoints Inderpal S. Bhandari to Serve as A Director on the Board and as A Member of the Innovation and Technology Committee On January 18, 2024, the Board of Directors (the “Board”) of The AES Corporation (the “Company”) approved the appointment of Mr. Inderpal S. Bhandari to serve as a director on the Board, effective January 18, 2024 . Mr. Bhandari will serve for a term expiring on the date of the Company’s 2024 Annual Meeting of Stockholders and until his successor has been duly elected and qualified, or until his earlier resignation or removal from office. Mr. Bhandari has been appointed to serve as a member of the Company’s Innovation and Technology Committee. Mr. Bhandari has served as Global Chief Data Officer of International Business Machine Corporation (“IBM”), a multinational technology corporation, from December 2015 to July 2023, where he led IBM’s global data strategy. He also served as the CDataO Program Advisory Board Chair and Strategic Advisor at Carnegie Mellon University, a private global research university, since February 2021. Prior to IBM, he spent more than 20 years working in the healthcare industry including at Cambia Health Solutions, a regional health plan provider and healthcare investment firm, as Senior Vice President and Chief Data Officer from 2014 to 2015; Express Scripts Inc., a pharmacy benefit management and pharmacy services company, as Chief Data Officer and Vice President, Knowledge Solutions from 2012 to 2014; and Medco Health Solutions Inc., a pharmacy benefit management and pharmacy services company, as Chief Data Officer and Vice President, Health Data and Analytics from 2006 to 2012. Announcement • Dec 23
Administradora de Fondos de Inversión Popular, S. A. completed the acquisition of Businesses in the Dominican Republic from The AES Corporation (NYSE:AES). Unknown closed end funds managed by Administradora de Fondos de Inversión Popular, S. A., agreed to acquire 10% stake in Businesses in the Dominican Republic of The AES Corporation on September 26, 2023. In additional transaction, Grupo Linda also acquire 20% of AES Colón in Panama. AES Colón includes a 381 MW combined cycle gas turbine with an adjacent regasification facility that has a 180,000 m3 LNG capacity storage tank. The transaction price for both transactions are $190 million. AES' businesses in the Dominican Republic include an LNG regasification terminal, with a 160,000 m3 LNG capacity storage tank, the AES Andres 319 MW combined cycle gas turbine plant, DPP 328 MW combined cycle gas turbine, as well as an additional 150 MW of solar and wind power plants.
Administradora de Fondos de Inversión Popular, S. A. completed the acquisition of Businesses in the Dominican Republic from The AES Corporation (NYSE:AES) on December 21, 2023. Announcement • Dec 22
Unknown closed end funds managed by Administradora de Fondos de Inversión Popular, S. A. acquired 35% stake in AES Colon Development, S. de R.L. from The AES Corporation (NYSE:AES). Unknown closed end funds managed by Administradora de Fondos de Inversión Popular, S. A. and Grupo Estrella agreed to acquire 35% stake in AES Colon Development, S. de R.L. from The AES Corporation (NYSE:AES) on September 26, 2023. AES Colón includes a 381 MW combined cycle gas turbine with an adjacent regasification facility that has a 180,000 m3 LNG capacity storage tank. In additional transaction, Grupo Linda also acquire 10% stake in Businesses in the Dominican Republic and Panama of The AES Corporation. AES' businesses in the Dominican Republic include an LNG regasification terminal, with a 160,000 m3 LNG capacity storage tank, the AES Andres 319 MW combined cycle gas turbine plant, DPP 328 MW combined cycle gas turbine, as well as an additional 150 MW of solar and wind power plants. The transaction price for both transactions are $190 million.Unknown closed end funds managed by Administradora de Fondos de Inversión Popular, S. A. and Grupo Estrella acquired 35% stake in AES Colon Development, S. de R.L. from The AES Corporation (NYSE:AES) on December 21. 2023. Announcement • Dec 09
The AES Corporation Increases Dividend for the First Quarter of 2024, Payable on February 15, 2024 The Board of Directors of The AES Corporation approved an increase of 4% in the Company's quarterly common stock dividend, from $0.1659 per share to $0.1725 per share, beginning in the first quarter of 2024. The Company's first quarter 2024 common stock dividend of $0.1725 per share is payable on February 15, 2024 to shareholders of record at the close of business on February 1, 2024. Announcement • Dec 01
Sev.En Global Investments A.S. agreed to acquire 51% equity stake in the Mong Duong 2 coal-fired plant in Vietnam from The AES Corporation (NYSE:AES). Sev.En Global Investments A.S. agreed to acquire 51% equity stake in the Mong Duong 2 coal-fired plant in Vietnam from The AES Corporation (NYSE:AES) on November 30, 2023. The transaction is subject to approval by the Government of Vietnam and the Ministry of Industry and Trade. The transaction is expected to close by the end of 2025. Announcement • Nov 19
AES Reportedly in Talks to Sell Major Coal-Fired Power Plant in Vietnam U.S. energy firm AES Corp. (AES.N) is in talks to sell its majority stake in one of Vietnam's largest coal-fired power plants, two people familiar with the discussions said, as part of its global strategy to divest coal assets by the end of 2025. AES is discussing the sale with Sev.En Global Investments A.S., the financial vehicle for foreign acquisitions of Czech energy firm Sev.en Group, ultimately owned by billionaire Pavel Tykac, the two people told Reuters, declining to be named because no deal had been finalised yet. It was not clear if AES was in talks with other potential buyers. The plant's second-largest shareholder, South Korea's energy firm Posco International Corporation (KOSE:A047050), told Reuters it was also considering selling its 30% stake, but did not elaborate further. AES had no immediate comment. Sev.en declined to comment. AES had tried to sell its 51% stake in the 1.2 gigawatt Mong Duong 2 coal-fired power plant in 2021 but the deal fell through after the company said it signed a sale agreement with a consortium led by an undisclosed "U.S.-based investor". The sources did not say how much AES's stake could be valued at under the current deal being considered. Posco's 30% stake was valued at $185 million when it had tried to sell in 2021, according to a regulatory filing from the company. That deal, which collapsed like the AES one did, would have valued the plant at over $600 million. Sovereign wealth fund China Investment Corporation (CIC), which owns the remaining 19% stake in the plant, is considering selling under the terms agreed by AES with potential buyers, one of the sources said. It is unclear whether CIC was also considering a potential sale to a possible buyer of Posco's stake. CIC did not reply to a request for comment. Announcement • Oct 07
The AES Corporation Declares Quarterly Common Stock Dividend, Payable on November 15, 2023 The Board of Directors of The AES Corporation declared a quarterly common stock dividend of $0.1659 per share payable on November 15, 2023 to shareholders of record at the close of business on November 1, 2023. Announcement • Oct 05
The AES Corporation to Report Q3, 2023 Results on Nov 03, 2023 The AES Corporation announced that they will report Q3, 2023 results on Nov 03, 2023 Announcement • Jul 25
the Aes Corporation Announces Executive Changes On July 21, 2023, the Board of Directors of The AES Corporation agreed that Bernerd Da Santos, currently serving as Executive Vice President, Chief Operating Officer and President of AES’ Renewables Strategic Business Unit (“SBU”), will step down from his position as COO, effective July 24, 2023, so that he may focus on his roles as Executive Vice President and President of AES’ Renewables SBU. On July 21, 2023, the Board appointed Ricardo Manuel Falú to serve as AES’ Senior Vice President and COO, effective July 24, 2023. Mr. Falú, age 43, currently serves as AES’ Senior Vice President and Chief Strategy and Commercial Officer, and has held these positions since August 2022. Since March 2023, Mr. Falú has also served as President of the New Energy Technologies SBU. Mr. Falú joined AES in 2003 and prior to his current roles, served as President of the Andes region from January 2022 to August 2022 and Chief Executive Officer of AES Andes from April 2018 to August 2022, which include AES Chile, AES Colombia and AES Argentina. Before that, Mr. Falú served as the Chief Financial Officer for the Company’s businesses in the Andes region from 2014 to April 2018. Announcement • Jul 15
The AES Corporation Announces Quarterly Dividend, Payable on August 15, 2023 The Board of Directors of The AES Corporation declared a quarterly common stock dividend of $0.1659 per share payable on August 15, 2023 to shareholders of record at the close of business on August 1, 2023. Announcement • Jun 22
The AES Corporation Appoints Gerard M. "Gerry" Anderson to Its Board of Directors, Effective July 17, 2023 The AES Corporation announced the appointment of Gerard M. "Gerry" Anderson to its Board of Directors, effective July 17, 2023. Anderson has more than 30 years of experience in the energy sector, with expertise in strategic leadership, operational excellence and public policy. Anderson is the former Chairman and CEO of DTE Energy. During his tenure, he founded and built DTE's non-regulated businesses and led innovation efforts to improve the company's utility operations and profitability. Anderson has held a wide variety of industry and regional leadership roles. He served as Chairman of the Edison Electric Institute (EEI), which pivoted to a greater focus on clean energy initiatives under his leadership. He also served as Chairman of the Detroit Economic Club for seven years and is the founding Chairman of the Detroit Regional Partnership. Anderson holds a Bachelor of Science in Engineering from the University of Notre Dame as well as a Master of Business Administration (MBA) and a Master of Public Policy (MPP) from the University of Michigan. Announcement • Jun 02
AES Commences Operation of First Phase of Chevelon Butte Wind Farm The AES Corporation announced the start of commercial operations for phase one of the Chevelon Butte wind farm. The project is located on the Chevelon Butte Ranch in Coconino and Navajo Counties, Arizona. AES' Chevelon Butte project is expected to produce a total of 454 MW of wind energy once both phases are fully operational next year. This first phase of the project will bring 238 MW of clean energy online with the remaining 216 MW expected to achieve commercial operations in 2024. The wind farm will be compatible with existing land uses, enabling the landowner family and Arizona State Land Department to continue the more than a century-long tradition of raising livestock and stewardship of this property. All lease payments to the State Land Department will directly fund Arizona public schools, universities and other in-state beneficiaries. In close coordination with regulators and permitting authorities, AES also incorporated unique design features to avoid sensitive environmental resources and preserve Northern Arizona's internationally recognized dark sky characteristics by integrating a radar-activated lighting system that enables the federally required turbine lights to turn on only when low-flying aircraft are in the vicinity. The project will use the most advanced wind energy technology deployed to-date and will include a total of 105 wind turbines at full buildout. Once both phases are complete, AES' Chevelon Butte wind facility is expected to generate enough electricity to power 110,000 homes annually. Announcement • Jan 05
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE:HASI) acquired 49% stake in 1.3 GW Renewables Portfolio from The AES Corporation (NYSE:AES). Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE:HASI) acquired 49% stake in 1.3 GW Renewables Portfolio from The AES Corporation (NYSE:AES) on January 4, 2023. AES will continue to own and operate the assets. In a related transaction, HASI is financing land owned by AES for a solar project and a standalone battery energy storage system in California.Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE:HASI) completed the acquisition of 49% stake in 1.3 GW Renewables Portfolio from The AES Corporation (NYSE:AES) on January 4, 2023. Announcement • Mar 14
Barry J. Bentley Announces Retirement from AES Corporation Organization as Member of the Board of Directors and as Vice President, U.S. Utilities Operations of IPALCO Enterprises, Inc. and Indianapolis Power & Light Company Effective March 19, 2021 On March 9, 2021, Barry J. Bentley announced his retirement from The AES Corporation (AES") organization, effective March 19, 2021. In connection with his retirement, Mr. Bentley resigned from his positions as a member of the Board of Directors and as Vice President, U.S. Utilities Operations of IPALCO Enterprises, Inc. (IPALCO"), a subsidiary of AES, and of IPALCO's principal subsidiary, Indianapolis Power & Light Company (d/b/a AES Indiana), effective March 19, 2021.