AES Beefs Up Backlog with PPAs for Renewable Energy

August 8, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--AES Corporation (NYSE:AES) (Arlington County, Virginia) is riding a tidal wave of demand for renewable energy. The company signed 531 megawatts (MW) of long-term renewable and energy-storage power purchase agreements (PPAs) in the second quarter, bringing its backlog to 10.5 gigawatts (GW) worth of projects expected to be completed through 2025, including 6 GW to be completed by the end of 2023.

Industrial Info is tracking more than $20 billion worth of active projects globally from AES, including nearly $8.5 billion within the U.S. Solar and battery energy-storage system (BESS) projects account for 1.25 of the 1.6 GW of renewables and energy-storage projects for which AES has signed long-term PPAs so far in 2022. These projects are expected to be brought online in 2023 and 2024. The company also says it has completed the construction or acquisition of 390 MW of solar projects across the U.S. and the Dominican Republic so far in 2022.

Other companies featured: Clearway Energy Group (NYSE:CWEN), Cypress Creek Renewables LLC, D.E. Shaw Group and General Electric Company (NYSE:GE).