AES Corporation (AES) displayed a mixed performance in past times, outperforming on some days and underperforming on others compared to competitors. In its pledge for green energy, the firm advanced its AI capabilities, and built an impressive 3.5 GW of renewables in 2023, in addition to accelerating the construction of solar-storage in Puerto Rico thanks to an $861M loan guarantee from DOE. Despite rumors on potential sell of its AES Brasil unit, AES eventually agreed to divest it for approximately $640 Million. On the financial front, AES exposed strong Q1 results, reaffirmed 2024 guidance, boosted its long-term growth rates and announced a public offering of fixed-to-fixed rate reset junior subordinated green notes. A promising investment in 605MW renewable portfolio of AES by HASI and new acquisitions by M&G Plc and Mitsubishi UFJ Asset Management support the growth trajectory. AES has also closed natural gas-fired plant in California and commits to completely convert to natural gas by 2026 in Indiana. Despite some billing complaints, analysts keep a 'moderate buy' stance on the corporation's stock. Recent regulatory approvals for green projects and an ongoing transition toward sustainable energy solutions highlight AES as a promising investment.
