Aes Corp Stock Price, News & Analysis

Air Products and The AES Corporation announced a $4 billion investment to construct a green hydrogen production facility in Wilbarger County, Texas. This mega-scale project aims to bolster sustainability efforts and support the energy transition. Air Products plans to host an investor teleconference on December 8, 2022, at 9:30 a.m. USET to discuss further details. With fiscal 2022 sales of $12.7 billion and a market capitalization of approximately $70 billion, Air Products continues to be a leader in industrial gases and clean energy solutions.

Air Products and AES Corporation are investing around $4 billion to establish the largest green hydrogen production facility in the U.S., located in Wilbarger County, Texas. The facility, set to begin operations in 2027, will generate over 200 metric tons of green hydrogen daily, utilizing 1.4 GW of renewable energy sources. It aims to meet increasing demands for zero-carbon fuels, potentially avoiding more than 50 million metric tons of CO₂ emissions over its lifetime. The partnership will create over 1,600 jobs and provide significant tax benefits.

Air Products and AES Corporation announced plans to invest $4 billion in a green hydrogen production facility in Wilbarger County, Texas. The facility, with 1.4 GW of renewable energy capacity, aims to produce over 200 metric tons of green hydrogen per day, making it the largest in the U.S. Set for commercial operations in 2027, it will significantly reduce carbon dioxide emissions, aiding the mobility market. The project is expected to create 1,300 construction and 115 permanent jobs, while generating $500 million in tax benefits for Texas.

The AES Corporation (NYSE: AES) announced a 5% increase in its quarterly common stock dividend, raising it from $0.1580 to $0.1659 per share. This dividend will be effective in the first quarter of 2023 and is set to be paid on February 15, 2023, to shareholders on record as of February 1, 2023.

This increase reflects AES's commitment to delivering value to its shareholders while continuing its focus on sustainable energy solutions.

AM Best has upgraded the Financial Strength Rating of AES Global Insurance Company (AGIC) from A- to A and the Long-Term Issuer Credit Rating from “a-” to “a”. The outlook for both ratings is stable. This upgrade reflects AGIC’s very strong balance sheet and solid operating performance, along with improved credit profile from its parent, The AES Corporation. AGIC's role in AES's risk management strategy is emphasized, noting sustained improvements in capitalization and underwriting performance.

The AES Corporation reported its Q3 2022 results, showcasing significant growth in renewable projects and financial performance. The company signed 3.2 GW of Power Purchase Agreements (PPAs) this year, boosting its backlog to 11.2 GW. It expects Adjusted EPS for the full year to reach the high end of its guidance range of $1.55 to $1.65, up from $1.18 year-to-date. Q3 2022 Diluted EPS rose to $0.59, reflecting higher margins in the Mexico and Central America region despite some challenges in US operations. AES aims for a 7% to 9% annual growth rate through 2025.

AES Corporation (NYSE: AES) announced the winners of its 2022 Energy Innovation Challenge, with three graduate students from the University of Dayton taking the top prize for their Project Oasis, an indoor farming system powered by solar energy. The challenge encourages innovative solutions to energy issues, featuring teams from four universities. The second-place team from Johns Hopkins University focused on decarbonizing steel production. AES aims to accelerate the clean energy transition and foster new talent in the energy sector.

The AES Corporation (NYSE: AES) announced the dedication of its Luna Battery Storage (100 MW, 400 MWh) and Lancaster Area Battery Storage (127 MW, 508 MWh) projects in California. Completed in August and September 2022, these facilities are among the largest battery storage installations globally. They can power 170,000 homes for four hours, contributing to California's energy grid stability and supporting its 2045 zero-carbon emissions goal. AES's facilities significantly aided power demands during a heatwave on September 6, 2022, discharging nearly 280 MW to the grid.

The AES Corporation (NYSE: AES) has declared a quarterly dividend of $0.1580 per share, payable on November 15, 2022. Shareholders on record as of November 1, 2022 are eligible. This announcement underscores AES's commitment to providing shareholder returns while continuing to advance its energy solutions. The company aims to deliver sustainable energy solutions aimed at improving lives around the globe. For detailed information regarding dividend tax treatment, visit www.aes.com.