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.