Aes Corp Stock Price, News & Analysis

The AES Corporation (NYSE: AES) has partnered with Google to launch Nest Renew, a service for Nest thermostats. This initiative aims to enhance energy efficiency and support customers' clean energy goals through AES's utilities, AES Indiana and AES Ohio. Nest Renew will allow users to prioritize clean energy use and track their environmental impact, with Nest Renew Premium offering renewable energy credits from US wind and solar projects. This collaboration is part of a 10-year strategic alliance aimed at innovating energy management and decarbonization efforts.

The AES Corporation (NYSE: AES) has scheduled a conference call to discuss its third quarter 2021 financial results on November 4, 2021, at 9:00 AM EDT. This call will include prepared remarks and a Q&A session, accessible to the public via telephone or webcast. Interested participants can dial in starting at 8:50 AM EDT using the access code 171597. A replay of the call will be available on the company's website shortly after the event.

On September 28, 2021, Fluence, a joint venture of The AES Corporation and Siemens, filed a registration statement for an initial public offering (IPO) of its Class A common stock with the SEC. The stock is expected to be listed on the Nasdaq under the symbol FLNC. The specific number of shares and price range are yet to be determined. Until the registration becomes effective, no shares can be sold or offered. This strategic move aims to bolster Fluence's growth in the energy storage sector.

AES Corporation (NYSE: AES) has appointed Stephen Coughlin as its new Executive Vice President and Chief Financial Officer, effective October 15, 2021. Coughlin previously led AES' Corporate Strategy and Financial Planning groups, and served as CEO of Fluence, AES' energy storage joint venture with Siemens. He succeeds Gustavo Pimenta, who is set to join Vale S.A. as CFO. Coughlin's extensive clean energy and finance experience is expected to contribute significantly to AES' leadership team, enhancing its strategic goals in renewables and energy storage.

The AES Corporation (NYSE: AES) has acquired a 49.9% stake in AES Colón from Inversiones Bahia, Ltd., increasing its ownership to 100%. AES Colón operates a 381 MW LNG-fired power plant and an LNG storage facility. The plant's output is fully contracted until 2028, enhancing AES' commitment to cleaner energy in Panama. This strategic move aims to maximize the value of AES' regional LNG business and integrate new partners into these assets, promising synergies and operational flexibility.

On August 19, 2021, AES selected Borrego to engineer and construct three utility-scale solar projects in Michigan, marking Borrego's entry into the state's clean energy market. The projects, with a total capacity of 72 MW-DC, are set to generate around 104,500 megawatt-hours annually, enough to power over 9,000 households. Ownership will transfer to AES post-completion, with electricity sold to Consumers Energy under a long-term power purchase agreement. This partnership highlights Borrego's ongoing growth and commitment to supporting renewable energy goals in Michigan.

AES reported Q2 2021 financial results, achieving a diluted EPS of $0.03, an increase from $(0.13) in Q2 2020. Adjusted EPS rose to $0.31 compared to $0.25 last year. The company secured regulatory approvals for over $2 billion in new investments, aiming for a 9% annual growth rate through 2025. AES signed 1.8 GW of new renewable energy PPAs, expanding its backlog to 8.5 GW. The coal generation target is set to under 10% by 2025, following the retirement of 1.1 GW of coal capacity. Moody's revised AES' Ba1 rating outlook to positive, reflecting financial improvement.

The AES Corporation (NYSE: AES) announced a collaboration with X, the moonshot factory, to advance clean energy integration into the grid. This partnership aims to develop tools for real-time grid virtualization in Indiana and Ohio, enhancing grid reliability and operational efficiency while reducing costs. Key executives emphasized the significance of these innovations for a sustainable energy future. This initiative builds on AES's prior strategic alliance with Google aimed at leveraging technology to optimize energy distribution.

AES Indiana plans to acquire and construct a 250 MW solar and 180MWh energy storage facility in Pike County, Indiana, enhancing its shift to renewable energy sources. The Petersburg Solar Project aims to power 45,000 homes during peak hours and create economic benefits, including job creation and new tax revenue for the community. Developed by NextEra Energy Resources, the project is pending approval from the Indiana Utility Regulatory Commission, with expectations to be operational by May 1, 2024. AES Indiana has achieved a 67% emissions decrease since 2015.