AES Corporation - Experts & Thought Leaders

The AES Corporation has announced reporting financial results for the year ended December 31, 2019. "In 2019, we achieved our strategic and financial goals, laying the foundation for strong growth in the coming decade," said Andrés Gluski, AES Corporation President and Chief Executive Officer (CEO). Innovative green energy solutions Gluski adds, "We are leading the global energy transition by completing 2.2 GW of new projects, adding 2.8 GW to our backlog, and expanding our LNG infrastructure in the Dominican Republic, Panama and Vietnam. At the same time, we are delivering innovative energy solutions through Fluence, Uplight, and a strategic partnership with Google. As a result, they are announcing that they are accelerating their decarbonisation goals for the company and will aim to reduce our coal-fired generation to below 30% of total MWh by year-end 2020 and to less than 10% by 2030." We are leading the global energy transition by completing 2.2 GW of new projects" "I am very pleased with our strong financial performance in 2019: delivering once again on all key metrics, while attaining an investment grade rating for the first time in our history," said Gustavo Pimenta, AES Corporation Executive Vice President and Chief Financial Officer (CFO). "With our 2019 results, we are confident in reaffirming our expected 7% to 9% average annual growth in Adjusted EPS and Parent Free Cash Flow through 2022." Full year 2019 financial results Full year 2019 Diluted Earnings Per Share from continuing operations (Diluted EPS) was $0.45, a decrease of $1.03 compared to full year 2018, primarily reflecting lower net gains on asset sales of $1.15, particularly at Masinloc in the Philippines, partially offset by lower tax expense related to the impact of the 2018 Tax Cuts and Jobs Act. Full year 2019 Adjusted Earnings Per Share (Adjusted EPS, a non-GAAP financial measure) was $1.36, an increase of $0.12, or 10%, primarily reflecting contributions from new businesses, including US renewables and AES Colon in Panama, and a lower effective tax rate, which was partially offset by the impact of asset sales. Transitioning to clean, sustainable energy solutions AES Corporation is leading the industry's transition to clean energy by investing in sustainable solution AES Corporation is leading the industry's transition to clean enesrgy by investing in sustainable growth and innovative solutions, while delivering superior results. The company is taking advantage of favourable trends in clean power generation, transmission and distribution, and LNG infrastructure to grow the profitability of its business. Sustainable Growth: Through its presence in key growth markets, AES is well-positioned to benefit from the global transition toward a more sustainable power generation mix. In 2019, AES Corporation signed 2,798 MW of renewables under long-term Power Purchase Agreements (PPA): 1,130 MW of solar and solar plus storage in the U.S., including: 665 MW at sPower 365 MW at AES Distributed Energy 884 MW of wind and solar at AES Gener in Chile and Colombia 434 MW of wind and solar in Mexico, the Dominican Republic and Panama 331 MW of wind and solar at AES Tiete in Brazil As of December 31, 2019, the company's backlog of 6,144 MW includes: 3,008 MW under construction and expected on-line through 2021 3,136 MW of renewables signed under long-term PPAs In 2019, the company completed construction of 2,181 MW of new projects, including: 1,320 MW OPGC 2 plant in India 555 MW of solar and energy storage globally 306 MW Mesa La Paz wind project in Mexico In the third quarter of 2019, the company finalised a joint venture in the Dominican Republic to increase its LNG storage capacity by 50 TBTU, in order to meet the demand from new take-or-pay contracts In the third quarter of 2019, the company received approval from the Government of Vietnam to develop the 2.2 GW Son My 2 combined cycle gas turbine (CCGT) power plant, which will be co-located with 480 TBTU of previously approved LNG storage The company has announced that it will participate in the proposed $500 million equity raise at AES Gener, by investing $335 million AES Gener has signed contracts for 2.5 GW of renewables under its Green Blend and Extend strategy, which will diversify its portfolio and largely offset the roll-off of legacy contracts through 2024 AES Gener will utilise the equity raised to fund the 1.6 GW of new capacity needed to meet the demand under these Green Blend and Extend contracts Innovative Solutions: AES is developing and deploying innovative solutions such as battery-based energy storage, digital customer interfaces and energy management. The company's joint venture with Siemens, globally renowned tech firm in the fast-growing energy storage market, is expected to increase energy supplies by 15 to 20 GW annually Fluence has been awarded or delivered 1.7 GW of projects, including 961 MW awarded in 2019 In the third quarter of 2019, the company announced the merger of Simple Energy into Uplight, globally renowned in providing cloud-based digital solutions to 100 million households in the U.S. In the fourth quarter of 2019, the company formed a 10-year strategic alliance with Google to develop and implement solutions to enable broad adoption of clean energy Superior Results: By investing in sustainable growth and offering innovative solutions to customers, AES is transforming its business mix to deliver superior results. In the fourth quarter of 2019, following the company's efforts to strengthen its balance sheet, its credit rating was upgraded to investment grade (BBB-) by Fitch and its BB+ credit rating was raised to Positive outlook by S&P. The company is executing on $100 million in annual run rate cost savings from digital initiatives, including utilising data and technology for maintenance, outage prevention, inspection and procurement, to be fully realised by 2022. AES also announced a target to reduce its coal-fired generation below 30% of total generation volume by year-end 2020 and to less than 10% by year-end 2030. AES is initiating 2020 Guidance for Adjusted EPS of $1.40 to $1.48, compared to 2019 Adjusted EPS of $1.36 2020 Guidance for Adjusted EPS AES is initiating 2020 Guidance for Adjusted EPS of $1.40 to $1.48, compared to 2019 Adjusted EPS of $1.36. The company also expects 2020 Parent Free Cash Flow of $725 to $775 million, compared to 2019 Parent Free Cash Flow of $726 million. AES is also reaffirming its average annual growth rate target of 7% to 9% through 2022 for both Adjusted EPS and Parent Free Cash Flow, from a 2018 base. Adjusted EPS and Parent Free Cash Flow are non-GAAP financial measures. The company is not able to provide a corresponding GAAP equivalent or reconciliation for its Adjusted EPS guidance or its Parent Free Cash Flow expectation without unreasonable effort. From a base of 2018 Adjusted EPS of $1.24 and 2018 Parent Free Cash Flow of $689 million. The company's 2020 guidance, expectations and growth rate target through 2022 are based on foreign currency and commodity forward curves as of December 31, 2019. Conference Call Information - AES will host a conference call on Friday, February 28, 2020 at 9:00 a.m. Eastern Standard Time (EST).

AES Corporation, the manufacturer of wireless mesh communication products and services designed for your monitoring needs, announces the appointment of Laura Wall to the position of Director of Product Management. Laura is the newest member of AES Corporations Leadership Team. She is an experienced and highly collaborative product management leader who specialises in conducting extensive market research. Her expertise in Voice of the Customer (VOC) data collection and strong analytical skill set will be vital in helping the organisation to prioritise customer focus and define product requirements. Managing the complete product lifecycle In her new role at AES, Laura will work cross-functionally with all departments to align sales objectives, marketing strategy, and customer support with the engineering product roadmap. This involves managing the complete product lifecycle from concept, to design and development, product launch, and end of life products/components. Prior to joining AES, Laura worked in chain retail, global manufacturing, distribution, and start-up environments. I am excited to work on projects that will deliver high quality products and meet the needs of our customers" Her appointment supports the Company’s plan for growing revenue and market share by strengthening its product line. “This is an exciting time to join AES with many strategic plans and initiatives in place to grow the business not only in the alarm industry, but also into other new markets,” said Laura. “Having spent the past several years working in product management roles, I am excited to work on projects that will deliver high quality products and meet the needs of our customers." Successfully developing and delivering new products Jim Burditt, Vice President of Sales, commented, “Laura is a perfect fit for this new position. I am confident that her experience, knowledge, and leadership skills will help us to successfully develop and deliver new products with ongoing customer feedback.” Laura graduated with a Master of Business Administration from Simmons School of Management, a Bachelor of Science degree in Marketing from Bentley University, and holds an Insight for Innovation certification credential from IDEO U. She is an active member of several industry groups including Product Development and Management Association (PDMA), New Product Development and Agile Innovation (NPD), Product Management Professionals, and Boston Product Management Association.

AES Corporation, the manufacturer of private wireless mesh radio alarm communication products and services, is pleased to announce the appointment of Corey J. Carter to the position of Vice President of Operations. Corey brings a wealth of manufacturing experience with over twenty years of his career spent in plant and facilities management. In his new role on the Leadership Team, he is responsible for overseeing all manufacturing staff operations and directing production processes. He also has responsibility for international logistics and the purchasing department, acting as the primary liaison interfacing with customers and suppliers. Process improvement, safety requirements Patrick Moran, President & COO, commented, "Corey has a strong background in quality assurance, purchasing, and finance. I am confident that his expertise in general assembly, line operations, continuous process improvement, safety requirements, and business planning will help support our corporate mission and company goals for the coming year." Prior to joining AES, Corey also served as a firefighter for the City of Peabody and in the United States Marine Corps Reserve. He graduated with a Bachelor of Science degree in Accounting from Salem State University and a Master of Business Administration from Northeastern University.