AES to Triple Renewable Capacity by 2027, Grow U.S. Utility Role

Researched by Industrial Info Resources (Sugar Land, Texas)--AES Corporation (NYSE:AES) (Arlington County, Virginia) plans to triple its capacity of renewable energy through 2027 by adding 25 to 30 gigawatts (GW) of solar, wind and battery energy-storage systems (BESS), while pursuing newer energy technologies like green hydrogen. The company also plans to grow its rate base at U.S. utilities 10% annually in the same time frame.

Industrial Info is tracking $32.75 billion worth of active projects from AES worldwide, nearly 70% of which is attributed to renewable-energy development; solar accounts for nearly half of its $15 billion in U.S.-based projects. AES has more than $1.2 billion worth of U.S.-based solar projects that are set to finish construction before the end of 2023.

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