AES Corporation(AES)

Leader

Arlington VA global power company (NYSE: AES) at $12.28B 2024 revenue; 32 GW portfolio (50% renewable), Meta solar agreements for AI data centers, 12 GW contracted backlog competing with NextEra for corporate clean energy PPA.

Company Overview

About AES Corporation

The AES Corporation is an Arlington, Virginia-based global power company — publicly traded on the New York Stock Exchange (NYSE: AES) as an S&P 500 Fortune 500 component — generating and distributing electric power across 15 countries to more than 2.5 million customers worldwide with a generation portfolio totaling over 32 gigawatts, of which renewable energy comprises 50% of capacity. In fiscal year 2024, AES reported revenue of $12.28 billion, completed construction of 3.0 GW of renewable energy projects, and signed 6.8 GW of new contracts, including renewable power purchase agreements for AI data center load growth. AES has earned recognition as the largest global supplier of clean energy to corporations for three consecutive years (BloombergNEF). In 2025, AES signed major solar agreements with Meta for projects in Michigan, Missouri, and Illinois powering hyperscale data centers. AES announced plans to exit coal generation completely by 2025, ahead of its previous target. AES's Fluence joint venture with Siemens is a global leader in energy storage technologies. Founded in 1981 as Applied Energy Services, AES is led by President and CEO Andrés Gluski (since 2011) and employs approximately 10,500 people worldwide.

Business Model & Competitive Advantage

AES's global independent power producer model addresses the renewable energy procurement challenge for corporations and utilities seeking to meet decarbonization commitments across multiple markets simultaneously: a hyperscaler like Meta committing to 100% renewable energy across its global data center portfolio requires a power developer that can source and deliver renewable electricity in Michigan, Missouri, Illinois, and overseas markets through a single counterparty relationship rather than negotiating with dozens of local developers. AES's 15-country operating footprint (spanning the Americas, Europe, and Asia) and 32 GW generation portfolio creates the scale to develop, finance, and operate renewable energy projects of 100-1,000 MW that the corporate PPA market requires — with AES's investment-grade balance sheet enabling the 15-25 year power purchase agreement terms that corporate renewable energy buyers need for energy cost certainty. AES's Maximo AI-enabled solar installation robot (which automates panel placement and reduces installation labor cost) and Fluence energy storage technology create proprietary efficiency advantages over pure developer competitors.

Competitive Landscape 2025–2026

In 2025, AES competes in the global independent power, utility-scale renewable energy, and corporate PPA market with NextEra Energy (NYSE: NEE, largest US renewable developer, $24B revenue), Enel Green Power (BIT: ENEL, Italian-owned global renewables), and Brookfield Renewable Partners (NYSE: BEP, $6B revenue, hydro and wind) for hyperscaler and corporate renewable energy procurement contracts in the AI data center power buildout. The Meta solar agreement (three projects totaling hundreds of MW in Michigan, Missouri, and Illinois) represents the hyperscaler direct PPA model that is driving renewable development faster than utility RFP cycles. The 12 GW contracted backlog (5.2 GW under construction) provides 3-4 years of visible growth in an environment where AI data center power demand is growing 40% annually. The 2025 strategy focuses on executing the 5.2 GW under-construction pipeline, signing additional hyperscaler data center power agreements, and completing the coal exit to improve ESG ratings and reduce carbon risk.

Founded
1981
Headquarters
Arlington, Virginia
Revenue
$12280M
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The AES Corporation Story

Founded in 1981
Arlington, Virginia
Founded by Roger Sant, Dennis Bakke

Founders

Roger SantDennis Bakke
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Company Timeline

Major milestones in AES Corporation's journey

12
Total Events
0
Funding Rounds
1
Acquisitions
0
Product Launches
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Leadership Team

Meet the leaders behind AES Corporation

Andrés Gluski

President and Chief Executive Officer

Andrés Gluski has served as President and CEO of AES Corporation since 2011, transforming the company into a major clean power provider and industry leader. Under his leadership, AES has been named to The Wall Street Journal's "Top 250 Best Managed Companies" and recognized as one of the "World's Most Ethical Companies" for 12 consecutive years. His total yearly compensation is $13.36 million, comprised of 9.3% salary and 90.7% bonuses.

Stephen Coughlin

Executive Vice President and Chief Financial Officer

Stephen Coughlin has served as Executive Vice President and CFO of AES since 2021. He previously led AES' Corporate Strategy and Financial Planning groups and served as Chair of the Company's Investment Committee. Coughlin also served as Chief Executive Officer of Fluence, AES' energy storage joint venture with Siemens, bringing deep expertise in clean energy finance and strategy.

Jay Morse

Chairman and Lead Independent Director

Jay Morse serves as Chairman of AES Corporation's Board of Directors and Lead Independent Director, providing strategic oversight and governance leadership for the company's global operations and clean energy transformation.

Tish Mendoza

Executive Vice President and Chief Human Resources Officer

Tish Mendoza leads AES Corporation's human resources strategy, talent development, and organizational culture initiatives as Executive Vice President and Chief Human Resources Officer, supporting the company's 10,500 employees across 15 countries.

Open Positions

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Key Differentiators

Market Leader

AES Corporation is recognized as a market leader in the Energy & Utilities sector, demonstrating strong industry presence and customer trust.

Enterprise Scale

With $12280M in revenue, AES Corporation operates at enterprise scale with proven market validation.

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