AES

What AES does

AES Corporation is a publicly traded (NYSE: AES), US-based global power company founded in 1981 and headquartered in Arlington, Virginia. It generates, distributes, and supplies electricity and energy solutions to industrial, commercial, utility, and technology customers across 15 countries in North America, South America, the Caribbean, Central America, Europe, and Asia. The company operates regulated electric utilities (AES Indiana and AES Ohio, serving over 533,000 customers), owns and operates a diversified generation portfolio spanning solar, wind, hydro, natural gas, LNG, and battery energy storage, and is the world's #1 seller of renewable energy to corporations per Bloomberg New Energy Finance.

The company's product portfolio is organized into three solution areas: Carbon-Free Energy (renewable PPAs and the first-of-its-kind 24/7 carbon-free energy solution for hyperscaler data centers), Flexible Capacity (natural gas, LNG, and dispatchable storage resources), and Grid Infrastructure (transmission, distribution, and digital grid solutions developed with Google X). Core technology includes the Fluence Advancion battery storage platform (a Siemens joint venture in which AES holds an interest), the Maximo AI solar installation robot (now spun off as an independent company), and the Haven Safety AI platform for predictive risk mitigation. Notable flagship projects include the AES Alamitos BESS (100 MW/400 MWh, the first standalone grid-scale battery storage project in the U.S.), the 2 GW Bellefield solar-plus-storage project in California, and the Lāwa'i Solar and Energy Storage Project in Hawaii.

AES makes money primarily through long-term, multi-year power purchase agreements (PPAs) negotiated directly with enterprise customers, regulated utility tariffs under state oversight, and contracted construction services for renewable projects. It serves four primary customer segments: Technology & Data Centers (its largest growth segment, anchored by Google, Microsoft, and Amazon), Mining & Metals, Commercial & Industrial, and Utilities & Cooperatives. The company has 8.2 GW of data center PPAs and 12 GW of contracted project backlog under signed PPAs. In March 2025, AES agreed to be acquired by a consortium led by BlackRock's Global Infrastructure Partners and EQT Infrastructure VI for $33.4 billion enterprise value, with closing expected in late 2026 or early 2027.

Name

AES

Legal name

The AES Corporation

Website

https://aes.com

Company type

Public

Founded year

1981

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

AES Corporation is a US-based global power company that generates, distributes, and supplies electricity and clean energy solutions to industrial, commercial, utility, and hyperscaler technology customers across 15 countries through long-term PPAs and regulated utilities.

Ownership category

akta.pro rank

Product category

Power Generation & Utility Services

NAICS

Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric Services (4911)

akta.pro primary industry

Energy Storage Asset Management (BESS/PCS/EMS) (EUAEAMAE)

akta.pro secondary industries

Energy Storage Software & Controls (EMS, monitoring, optimization, cybersecurity) (IMAGAHAJ), Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF), Battery Safety Engineering (Fire Detection/Suppression, Hazard Mitigation) & Code Compliance (EUAEAEAI)

Keywords

• Power generation services
• Renewable energy solutions
• Battery energy storage
• Electricity distribution services
• Grid infrastructure solutions

Headquarters

HQ city

Arlington

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Power Generation and Utility Services: AES generates revenue through owning and operating power generation facilities (renewable and thermal) and utility operations. The company sells electricity under long-term power purchase agreements (PPAs) to corporations, utilities, and industrial customers, and provides grid infrastructure services. Revenue comes from electricity generation and delivery, with contracted cash flows from PPAs and regulated utility tariffs.
2. Renewable Energy Development: AES develops renewable energy projects (solar, wind, storage) under signed PPAs, with construction services and long-term energy supply contracts as the primary revenue mechanism. The company completed 3.2 GW of solar, energy storage, and wind projects in 2025.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

AES generates, distributes, and supplies electricity and energy solutions to industrial, commercial, and utility customers across 15 countries. The company develops, owns, and operates a diversified portfolio of power generation assets spanning solar, wind, hydro, natural gas, LNG, and battery energy storage, and delivers carbon-free energy, flexible capacity, and grid infrastructure solutions primarily through long-term power purchase agreements with corporate and utility customers.

Product overview

AES is a diversified power generation and utility company offering an integrated portfolio of energy solutions. The company operates across three main solution areas: Carbon-Free Energy (solar, wind, hydro, battery storage), Flexible Capacity (natural gas, LNG, dispatchable resources), and Grid Infrastructure (transmission, distribution, digital solutions). Key products include the Maximo AI solar installation robot (spun off as independent company), AES Alamitos Battery Energy Storage System (world's first stand-alone grid-scale storage project), Haven Safety AI platform, and 24/7 carbon-free energy solutions developed with Google. AES also holds a joint venture in Fluence Energy for grid-scale storage technology integration. The company serves utilities, data centers, mining operations, and commercial & industrial customers across 15 countries.

Differentiator

Problem solved

Functional benefit

Brands

• Maximo: The world's first AI-enabled solar installation robot that deploys solar panels in half the time at half the cost. Developed by AES as a robotics solution for solar construction.
• Haven Safety AI
• Advancion

Products and services

• AES Carbon-Free Energy Solutions Portfolio of tailored carbon-free energy solutions including solar, wind, hydro, and battery storage technologies. AES is the largest global supplier of clean energy to corporations, serving technology companies, mining operations, commercial & industrial customers, and utilities with renewable energy supply under long-term power purchase agreements.
• AES Flexible Capacity Solutions Diverse fleet of flexible, around-the-clock capacity and low-carbon infrastructure including natural gas generation, LNG facilities, and battery storage to enhance grid resilience and energy security for utilities and large industrial customers.
• AES Grid Infrastructure Solutions Resilient, cutting-edge transmission, distribution and digital solutions for grid infrastructure optimization, including grid virtualization technologies developed with partners to modernize the grid and integrate distributed renewable resources.
• 24/7 Carbon-Free Energy Solution First-of-its-kind energy service supplying guaranteed time-matched carbon-free energy for at least 90% of all hours through a customized mix of solar, wind, hydropower and battery energy storage resources. Originally developed in partnership with Google for their Virginia data center campus and expanded to additional hyperscale customers.
• Maximo AI Solar Installation Robot The world's first AI-enabled solar installation robot that deploys solar panels in half the time and at half the cost of traditional methods. Maximo uses artificial intelligence, autonomous robotics, Lidar, and computer vision to automate heavy lifting, operate extended shifts, and accelerate solar installation while improving safety. Originally developed at AES and spun off as an independent company that continues to deploy solar capacity for AES projects.
• Haven Safety AI Platform AI-native safety platform designed to investigate safety incidents faster and identify systemic risks across utility and renewable energy operations. The platform analyzes real-time data from equipment sensors, weather patterns, and historical incident reports to enable predictive maintenance and risk mitigation, achieving over 50% reduction in safety incident investigation time.
• Grid Virtualization Technology Technology developed in partnership with X (Google's moonshot factory) to build a modern, accessible, affordable and green grid. Virtualizes the grid while improving efficiency and reliability, allowing prediction and planning for weather events and optimization for renewables integration across AES Ohio and AES Indiana utilities serving over 1 million customers combined.
• AES Alamitos Battery Energy Storage System (BESS) World's first stand-alone energy storage project for local capacity, a 100 MW / 400 MWh battery energy storage system in Long Beach, California using Fluence Advancion 5 lithium-ion battery technology. The system specifically replaced a natural gas peaker plant in the U.S., providing peak capacity and supporting grid modernization with output equivalent to powering 22,000 local homes during peak conditions.

Quantifiable outcome

• Deploys solar panels in half the time and at half the cost compared to traditional installation methods
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability6 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered core, minor and flagship.

• NVIDIAcoreStrategic or Co-development Partner · 1 March 2026AES partnered with NVIDIA and Emerald AI along with other energy companies (Constellation, Invenergy, NextEra Energy, Nscale Energy & Power, Vistra) to pioneer flexible AI factories that can operate as grid assets. The initiative leverages NVIDIA's Vera Rubin DSX AI Factory reference design and Emerald AI's Conductor platform to enable AI facilities to both draw power from and support the grid, potentially unlocking up to 100 GW of capacity across the US power system.
• Emerald AIcoreTechnology or Integration · 1 March 2026Emerald AI partnered with AES and other energy companies along with NVIDIA to develop flexible AI factories that connect to power grids as flexible energy assets. The Emerald Conductor platform coordinates computing workloads with on-site generation and storage.
• AI FundminorStrategic or Co-development Partner · 1 January 2025AES partnered with AI Fund to co-develop Haven Safety AI, an AI-native platform for safety incident investigation. AI Fund provided strategic backing for the development of this safety technology platform.
• Maximo (Spun-off Entity)coreStrategic or Co-development Partner · 1 July 2024Maximo was incubated by AES and has since been spun off as an independent company. The AI-enabled solar installation robot was developed at AES and continues to deploy solar panels for AES projects including the Bellefield solar-plus-storage project.
• sPowercoreStrategic or Co-development Partner · 1 January 2020AES merged sPower's US clean energy development business with AES' clean energy development business, creating one of the top renewables growth platforms in the US. The combined entity manages 2.5 GW of operating assets, 2.6 GW contracted backlog, and has 12 GW of development projects.
• GoogleflagshipStrategic or Co-development Partner · 1 January 2019AES entered a 10-year strategic alliance with Google in 2019 to innovate solutions to global energy challenges. Key collaborations include: (1) First-of-its-kind 24/7 carbon-free energy solution for Google's Virginia data center campus, supplying guaranteed time-matched carbon-free energy for at least 90% of all hours; (2) Grid virtualization technology development with Google X (the moonshot factory) to build a modern, accessible, affordable and green grid; (3) Nest Renew digital energy platform collaboration enabling utility customers with compatible Nest thermostats to support clean energy future.
• CencosudcoreStrategic or Co-development Partner · 1 January 2017AES Andes extended its renewable power supply agreement with Cencosud, continuing a partnership that began in 2017. Under the new deal, AES Andes supplies renewable electricity to more than 200 Cencosud sites across Chile's SEN grid, including Cenco Costanera, one of South America's largest shopping centre complexes.
• Fluence (AES & Siemens Joint Venture)coreStrategic or Co-development Partner · 1 January 2014Fluence is a joint venture between AES and Siemens, established to provide energy storage solutions globally. The company offers the Advancion energy storage platform used in AES projects including the AES Alamitos BESS. Fluence is described as the world's #1 grid-scale energy storage integrator according to Guidehouse Insights.

Scale indicators16 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Constellation Energy: Constellation Energy is the largest US power producer, supplying hyperscalers with nuclear and renewable capacity via long-term PPAs. Direct competitor to AES in the data center PPA market and emerging 24/7 carbon-free energy solutions.
• NextEra Energy: NextEra Energy is the world's largest renewable energy generator and operator of Florida Power & Light utility. Directly comparable to AES in combining regulated utility operations with a large-scale renewable IPP business serving hyperscalers and corporate buyers.
• Dominion Energy: Dominion Energy is a major US utility with growing renewable generation and data center power demand in Virginia. Direct peer to AES in serving data center hyperscalers with mixed clean energy solutions including offshore wind, solar, and storage.
• Duke Energy: Duke Energy is one of the largest US investor-owned utilities with significant renewable generation and grid infrastructure. Comparable to AES in regulated utility scale, renewable portfolio expansion, and pursuit of corporate clean energy contracts.
• Pattern Energy: Pattern Energy is a pure-play renewable energy IPP with utility-scale wind, solar, and storage projects across North America. Comparable to AES as a renewable IPP focused on hyperscaler and corporate PPA customers.
• Vistra Corp: Vistra is one of the largest US power generators with a diversified mix of nuclear, natural gas, solar, and battery storage. Directly competes with AES in hyperscaler PPAs and flexible capacity offerings including AI-driven grid services.
• Invenergy: Invenergy is one of the largest US-based privately-held renewable energy developers with utility-scale solar, wind, and storage projects. Direct competitor to AES in hyperscaler PPAs and large-scale clean energy development.

Broad incumbents

• Enel: Enel is an Italian multinational energy company with extensive renewable operations in the Americas including Enel Chile, Enel Green Power, and US assets. Comparable to AES Andes in South American generation and grid infrastructure operations.
• Iberdrola: Iberdrola is a Spanish global renewable energy major with Avangrid in the US. Comparable to AES in renewable generation scale, BESS deployment, and global clean energy platform spanning onshore/offshore wind and solar.
• Engie: Engie is a global energy major with deep renewable and BESS operations across the Americas, Europe, and emerging markets. Comparable to AES as a global diversified power company, though broader in scale and geographic footprint with stronger natural gas legacy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/TheAESCorp
• YouTubeyoutube.com/TheAESCorporation
• Facebookfacebook.com/TheAESCorporation
• LinkedInlinkedin.com/company/aes
• Instagraminstagram.com/theaescorp/#

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries6 records

Funding overview

Funding rounds8 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments8 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AES