The AES Corporation (AES) is a Fortune 500 global power company with businesses in 14 countries across four continents. It generates and distributes electricity from various sources, including natural gas, coal, hydroelectric, wind, solar, and biomass. The company's headquarters are based in Arlington, Virginia, United States.
The company was founded by Roger Sant and Dennis Bakke in 1981 and listed on the New York Stock Exchange in 1991. It has since grown by acquiring and building numerous power plants and utilities across the world. AES is known for its entrepreneurial spirit, commitment to innovation, and emphasis on operational excellence.
AES's business model is focused on two key business lines: United States utilities and global power generation. It serves approximately 2.8 million customers in the United States. The global power generation division consists of the company's portfolio of electricity generation operations and related energy sales in approximately 20 countries.
The company is also deeply invested in sustainability and has notably numerous efforts towards carbon reduction. This involves a significant transition to greener energy sources, such as renewables, and a commitment to reduce its carbon intensity by 70% by 2030. The company also works closely with a variety of stakeholders, including governments, non-governmental organizations, customers, and communities, to manage its social and environmental impacts.
AES's portfolio of energy storage solutions, under its Fluence division, is leading in the energy storage sector. These provide services such as frequency regulation, renewable integration, peak shaving, and backup power to the grid. As of 2021, AES operates over 2 GW of energy storage projects worldwide, more than any other company.
In recent years, AES has focused on simplifying its business to emphasize strategic growth areas. This includes the sale of non-core assets, deleveraging balance sheets, and investing in clean energy technologies. Its strategic vision combines a focus on profitability with a commitment to sustainable growth and value creation.
AES continues to deliver reliable, affordable, and sustainable energy to millions of people around the world. Its forward-thinking strategies in clean energy, energy storage, and digital innovation continue to position the company as a leader in the global power sector.
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Bank of America Corp DE acquired a new stake of 5,496,860 shares in The AES Corporation (NYSE:AES), valued at approximately $80.6 million. This purchase gives Bank of America a 0.77% stake in the utilities provider. Other institutional investors have also increased their positions, bringing the total institutional ownership to 93.13%, while analysts generally maintain a "Hold" rating with a target price of $15.71.
The Public Utilities Commission of Ohio (PUCO) has approved the acquisition of AES Ohio's parent company by a consortium led by Global Infrastructure Partners (a part of BlackRock) and EQT Infrastructure VI fund. This $33 billion acquisition is an important regulatory milestone, though not yet final. AES Ohio will continue to operate from its Dayton headquarters, maintain its current management, and its status as an Ohio-regulated electric distribution utility.
Ohio regulators have approved a change of control for AES Ohio, as reported by Mikel Livingston. The Public Utilities Commission of Ohio, chaired by Jenifer French, presided over the meeting where the decision was made. This action was noted on September 17, 2026, with the article published on September 18, 2026.
The Public Utilities Commission of Ohio has approved the sale of AES Ohio to a group of private equity firms, including Blackrock-owned Global Instructure Partners, EQT AB, Qatar Investment Authority, and California Public Employees’ Retirement System. The acquisition, valued at $33.4 billion, will transform AES from a publicly traded company to a privately held one, encompassing its utility companies AES Ohio and AES Indiana. Despite the change in ownership, the regulators state that AES Ohio's rates, terms of service, employees, and operations will remain unchanged, and its headquarters will stay in Dayton.
Tidal Investments LLC significantly increased its stake in The AES Corporation, purchasing an additional 189,691 shares, bringing its total holdings to 290,604 shares valued at $4.26 million. Other institutional investors like BlackRock and California State Teachers Retirement System also increased their positions, contributing to 93.13% institutional ownership. AES reported strong quarterly earnings of $0.60 per share, exceeding estimates, and offers an annualized dividend of $0.70 per share with a 4.8% yield, while analysts maintain a "Hold" rating.
Engineers Gate Manager LP significantly reduced its stake in The AES Corporation (NYSE:AES) by 66.1% in the second quarter, selling over 413,000 shares. Despite this, other major institutional investors like BlackRock, Bank of New York Mellon, and Bank of America acquired new positions, with institutional investors collectively owning 93.13% of AES shares. The company reported strong Q2 earnings, beating analyst estimates with an EPS of $0.60 on revenues of $3.42 billion, and maintains a "Hold" consensus rating with a 4.8% annualized dividend yield.