AES Corporation

Wikipedia:Citation needed East Kazakhstan Region Indianapolis Power & Light
Advertisement - You can get this game from STEAM
The AES Corporation
Applied Energy Services, Inc. (1981–2000)
Traded as
ISINUS00130H1059 Edit this on Wikidata
FoundedJanuary 28, 1981
FounderRoger Sant
Dennis Bakke
HeadquartersArlington, Virginia, U.S.
Area served
Key people
Jay Morse (Chairman)
Andres Gluski (President, CEO)
RevenueDecrease US$10.19 billion (2019)[1]
Decrease US$303 million (2019)
Total assetsIncrease US$33.65 billion (2019)
Total equityDecrease US$3.00 billion (2019)
Number of employees
8,000 (2019)

The AES Corporation is a Fortune 500 company that generates and distributes electrical power.[2] AES is headquartered in Arlington, Virginia, and is one of the world's leading power companies, generating and distributing electric power in 15 countries[3] and employing 10,500 people worldwide.[2]


The company was founded on January 28, 1981, as Applied Energy Services[4] by Roger Sant and Dennis Bakke, two appointees of the Federal Energy Administration under president Richard Nixon. The company was initially a consulting firm; it became AES Corporation, which went public in 1991. Sant was chairman, CEO, and president and Bakke was executive vice president until assuming the position of president in 1987. Bakke would later become the company's CEO in 1994, serving for 8 years until his resignation in 2002, in the midst of a liquidity crisis that followed the collapse of the energy giant Enron. Sant remained as executive chairman until 2003 and as a member of the board until 2006. Paul Hanrahan was appointed President and CEO and served for 10 years, overseeing the stabilization of the company. In 2012, Hanrahan resigned, his position as President and CEO of the company succeeded by Andres Gluski. AS CEO, Gluski has implemented a strategy of reducing the number of countries in which AES does business, from 28 to 16, for the purpose of consolidating operations and reducing costs. Additionally, he also began a program of reducing the company's total carbon emission intensity.

Bakke and Sant oversaw much of AES's initial global expansion, building power plants in 29 countries and expanding its staff from 1,400 to 32,000 employees, and also instilled a system of decentralized management that emphasized social responsibility above profit.[5] In recent years, AES has also signaled a commitment to providing their consumers and clients with renewable forms of energy, and their operations across the world have increasingly focused on the construction, and provision of solar and wind based energy storage systems.

AES acquired the assets of Indianapolis Power & Light, Ipalco, in 2000.[6]

AES acquired the Chilean-based subsidiary Gener in 2000. AES acquired DPL Inc. known as Dayton Power & Light in 2011.[7]

In fiscal 2015 AES's total revenue was $15 billion.[8]

In 2018, AES acquired the subsidiary sPower.

Major projects


Launched during January 2018, Fluence is a joint venture between AES Energy Storage and Siemens that is focused on the development of, and expansion of energy storage technologies and services. Chaired by former AES vice-president for energy storage platforms Stephen Coughlin, and headquartered in Washington D.C., Fluence aims to implement AES's extensive research into the potential of lithium-ion powered energy sources by relying upon Siemens' expansive global presence in the industrial sector; for the purpose of addressing the rapidly rising demand for clean energy technologies.[9] Fluence has been deployed in 16 countries, with major projects including the following:[10]

  1. The creation of a new 40 megawatt storage facility on behalf of San Diego Gas & Electric's new 40 MW storage facility.[11]
  2. Three solar powered projects throughout Arizona and two 10 MW projects in the Dominican Republic.[12]
  3. The installation of six storage projects across Germany that will provide grid stabilization.[13]
  4. The construction of a hybrid microgrid on the Mediterranean Island of Ventotene. Said microgrid will be developed as per an agreement between Fluence and the Italian energy utility Enel, and will combine diesel generators with renewables in order to aid in the efforts to reduce carbon costs and emissions.[14] The key technology platforms developed by Fluence include the following.

Key Fluence technologies

Fluence is expected to employ three different types of grid technology.

i):SIESTORAGE: An electrical energy storage system fueled predominantly by wind and solar energy. Siestorage relies upon the closed-loop controls and pulse modulation built into its semiconductors, in order to provide consumers with increased dependability.[15]

ii):Advancion: A storage system that is made up of several small, modular nodes and powered by Lithium ion batteries, which enables the Advancion energy store system to provide consumers with a heightened degree of consistency in performance.[16]

iii): Sunflux Energy: Announced in January 2018, Sunflex was developed for the purpose of expanding upon the possibilities offered by photovoltaic solar energy. This technology is built to capture energy during peak solar hours in order to expand energy delivery.[17]

Projected ventures using Fluence technologies

Presently, the biggest project in Fluence's portfolio is a 100–400 Mwh "power center energy storage project" for Southern California Edison.[18] This system will be housed within AES's power center in Los Alamitos, California.

During January 2018, the subsidiary AES India, working in partnership with Mitsubishi, commenced construction of a 10 MW energy storage solution that will be located in Rohini. This storage solution, which shall operate off Fluence's Advancion technology, is projected to be the first utility-scale system to be in India.[19]


Headquartered in Salt Lake City and acquired from Fir Tree Partners Inc in a purchase during 2017, as part of a joint acquisition with Alberta Investment Management Corporation. Spower is one of the largest operators and developers of utility-scale solar in the United States; operating across 11 states, and with particular focus on the states of California and North Carolina.[20] Spower's current operating portfolio includes 1.3 GW worth of solar and wind based properties, in addition to over 10,000 MW worth of projects that are in the developmental stage.[21]

Investment in drone technologies

As part of an effort by AES to protect its employees from industry hazards and to improve workplace safety, the company announced a partnership with the nation's leading drone provider, Measure, to inspect their various energy infrastructures sites across 17 countries.[22]

Major properties and subsidiaries

Properties and subsidiaries in North America

Properties in South America

Based in Argentina

Based in Brazil

Based in Chile

Properties and subsidiaries in Europe

Based in United Kingdom

Based in Bulgaria

Based in the Netherlands

Properties and subsidiaries in Asia

Properties and subsidiaries in the Middle East

Based in Jordan

Properties and subsidiaries in Central Asia

Based in Kazakhstan

Properties and subsidiaries in Southeast Asia

Based in the Philippines
Based in Vietnam

Properties and subsidiaries in India


  1. ^ "The AES Corporation revenue".
  2. ^ a b "AES". Fortune. Retrieved November 24, 2018.
  3. ^ [1]
  4. ^ "AES - Frequently Asked Questions". Archived from the original on October 22, 2006. Retrieved October 7, 2012.
  5. ^ "AES Corporation - Company Profile, Information, Business Description, History, Background Information on AES Corporation". Retrieved December 7, 2017.
  6. ^ "AES acquiring Ipalco". CNNfn. July 17, 2000. Retrieved November 4, 2017.
  7. ^ Nolan, John (November 29, 2011). "AES completes DPL merger". Dayton Daily News. Retrieved November 4, 2017.
  8. ^ "AES Corporation, Form 10-K, Annual Report" (PDF). Retrieved April 27, 2016.
  9. ^ Spector, Julian. "AES and Siemens Partner to Create New Energy Storage Powerhouse". GreenTech Media. January 11, 2018. Accessed June 14, 2018.
  10. ^ "Energy Storage Company Fluence Launches with Unparalleled Suite of Capabilities for Customers in Over 160 Countries". January 11. 2018. Accessed June 14, 2018.
  11. ^ Colthorpe, Andy. "AES and Siemens’ energy storage JV Fluence launches solar-plus-storage platform, financing". Energy Storage News. January 11, 2018. Accessed June 14, 2018.
  12. ^ "Energy Storage Company Fluence Launches with Unparalleled Suite of Capabilities for Customers in Over 160 Countries". January 11. 2018. Accessed June 14, 2018.
  13. ^ [2].
  14. ^ Ibid.
  15. ^ [3] Siestorage Platform. Accessed June 14, 2018.
  16. ^ [4] "The Advancion Energy Storage Platform". Accessed June 14, 2018
  17. ^ [5] "The SunFlex Energy Storage Platform". Accessed June 14, 2018
  18. ^ Lambert, Fred. [6]/. "AES and Siemens launch new energy storage startup to compete with Tesla Energy, will supply new world’s biggest battery project". January 11, 2018. Accessed June 14, 2018.
  19. ^ [7] "AES and Mitsubishi Corporation Start Construction on India’s First Grid-Scale Energy Storage System for Tata Power-DDL". Business Wire. January 23, 2018. Accessed June 15, 2018.
  20. ^ Kenning, Tom. "sPower sold to AES and AIMCo for US$1.6 billion". August 1, 2017. Accessed June 15, 2018.
  21. ^ Swagath, BV. "SolAero wins contract to supply solar panels to SSL". Accessed June 15, 2018.
  22. ^ "Measure Partners With AES To Deploy Drones At Record Scale For The Energy Industry". PR Newswire. February 7, 2017. Accessed June 15, 2018.
  23. ^ Wagman, David (November 28, 2017). "Battery Storage Will Offer Grid Support as Puerto Rico Recovers". IEEE Spectrum: Technology, Engineering, and Science News. Retrieved December 7, 2017.
  24. ^ "AES Energy Storage". AES Energy Storage. Retrieved October 7, 2012.
  25. ^ "SDG&E and AES complete world's largest lithium ion battery facility". Energy Storage News. February 28, 2017. Retrieved March 6, 2017.
  26. ^ "The AES Corporation Factsheet As Of August 8, 2017. p. 13. Accessed June 19, 2018.
  27. ^ [8] "Sarmiento". Accessed June 19, 2018.
  28. ^ "Kilroot Power Station". Accessed June 19, 2018.
  29. ^ "AES Unveils AES Kilroot Advancion Energy Storage Array". Fluence. Accessed June 19, 2018.
  30. ^ "Eltsa Cogeneration Power Plant Hoek AES". Accessed June 19, 2018.
  31. ^ "AES Netherlands Advancion® Energy Storage Array Now Serving European Grid" Fluence. January 16, 2016. Accessed June 19, 2018.
  32. ^ "Masinloc Coal- Fired Thermal Power Plant. Accessed June 19, 2018.
  33. ^ "AES to Bring First Battery-Based Energy Storage to the Philippines". November 4, 2015. Accessed June 19, 2018.
  34. ^ AES Achieves Commercial Operation of 1,240 MW Mong Duong 2 Plant in Vietnam". Businesswire. May 11, 2015. Accessed June 19, 2018