Aes Corp Stock Price, News & Analysis

The AES Corporation announced the early termination of two Power Purchase Agreements (PPAs) with its subsidiary, AES Gener, related to the Angamos coal-fired plant in Chile. This agreement allows AES Gener to accelerate payments totaling $720 million this year, reflecting the present value of fixed charges through 2029. The company plans to use approximately $200 million of these proceeds to fund renewable projects after debt repayment. AES reaffirms its 2020 guidance and growth targets through 2022, continuing its commitment to decarbonization.

The AES Corporation reported Q2 2020 results, highlighting a strategic shift towards renewables, with a commitment to reduce coal generation to below 30% by year-end. The company sold 2.0 GW of coal capacity, bringing total coal generation down to 34%. They signed or awarded 852 MW of new renewables, totaling 1.5 GW YTD. Financially, the diluted EPS was ($0.13), a decline from $0.02 in Q2 2019, while adjusted EPS was $0.25, slightly lower than the previous year. AES maintains a robust liquidity of $3.5 billion and aims for 7-9% annual growth through 2022.

AES Corporation (NYSE: AES) has made a strategic investment in 5B, a solar technology innovator from Sydney, Australia. This collaboration aims to enhance solar energy deployment with 5B's MAVERICK design, which reportedly allows the addition of solar resources three times faster and generates twice the energy within the same space compared to traditional systems. The global solar energy market is projected to reach $613 billion between 2021-2025. AES plans to utilize MAVERICK technology in multiple renewable energy projects, including 2 MW in Panama and a 10 MW expansion in Chile.

The AES Corporation announced an agreement for its subsidiary AES Holdings Brazil to acquire an 18.5% economic interest in AES Tietê S.A. for BRL 1.27 billion ($246 million). This transaction, funded through secured non-recourse debt, is expected to be accretive to AES' annual earnings by $0.01 to $0.02 per share in 2020 and beyond. Post-acquisition, AES will own 42.85% of AES Tietê, enhancing its renewable portfolio and advancing its decarbonization goals. The company plans to migrate AES Tietê to the Novo Mercado for better liquidity and governance.

The AES Corporation (NYSE: AES) has been named in Fast Company's 2020 edition of Best Workplaces for Innovators, highlighting its commitment to innovation in energy technology. AES is recognized among major corporations like Google and Amazon for fostering a work environment that encourages creative ideas. The company has implemented over 4,400 innovative projects through its APEX program, generating financial benefits exceeding $1.1 billion. AES's initiative, AES Next, focuses on identifying new energy solutions and has led to significant subsidiaries like Fluence and Uplight, enhancing its competitive edge.

The Board of Directors of AES has declared a quarterly dividend of $0.1433 per share, payable on August 18, 2020, to shareholders of record by August 3, 2020. This follows a strong financial performance, with 2019 revenues reaching $10 billion and total assets of $34 billion. The company continues to provide affordable and sustainable energy across 14 countries, showcasing its commitment to operational excellence amidst changing power needs.

Indianapolis Power & Light Company (IPL) has announced new payment options to support customers facing financial challenges due to the COVID-19 pandemic. The company, under The AES Corporation (NYSE: AES), has suspended disconnections for nonpayment and introduced flexible payment plans of 3, 6, 9, or 12 months. Additionally, IPL is providing $75,000 in grant assistance through its Power of Change fund. Customers will receive communication regarding overdue balances, and IPL is enhancing self-service options on its website and phone system to facilitate smoother payment processes.

The AES Corporation (NYSE: AES) will conduct a conference call on August 6, 2020, at 9:00 a.m. EDT to discuss its Q2 2020 financial results. The call will feature prepared remarks followed by a Q&A session and is open to the public via telephone and webcast. Participants can join by calling 1-888-317-6003 or +1-412-317-6061 for international callers. Access to the webcast and presentation materials will be available on the AES website.

On June 30, 2020, AES announced the sale of its 100% equity interest in the Itabo power plant in the Dominican Republic for approximately $101 million to Grupo Linda. This deal includes a 260 MW coal-fired plant and a 35 MW gas turbine. The sale aligns with AES's strategy to decarbonize its portfolio, aiming to reduce coal generation to below 30% by year-end 2020 and less than 10% by 2030. AES maintains 697 MW of generation capacity in the region post-sale and reaffirms its 2020 Adjusted EPS guidance between $1.32 and $1.42.