The company has completed construction or acquisition of 593 MW of wind, solar and energy storage, and expects to add a total of 3.6 GW to its operating portfolio by year-end 2024.

Including the 1 GW of Bellefield 2 signed in the first quarter of 2024, the Company has signed long-term PPAs for 5.9 GW of renewables to serve data center and technology customers in the U.S. and South America since 2018.

AES Indiana received approval from the IURC to implement new customer rates beginning in mid-May 2024. AES Indiana will continue to be among the lowest residential rates of any investor-owned utility in Indiana.

AES Indiana filed for approval of a CPCN seeking for IURC approval to repower Petersburg Generation Units 3 & 4 from coal to natural gas and to recover costs through future rates.

AES Ohio filed a Smart Grid Phase 2 with the PUCO proposing to invest approximately $683 million in capital projects over a 10-year period following the Smart Grid Phase 1, which ends June 2025.

We have contracted and secured our expected requirements for solar panels for U.S. projects targeted to achieve commercial operations in 2024.

New Commerce regulations regarding AD/CVD cases went into effect, and a petition was filed requesting investigation into new AD/CVD duties on cells and modules from Thailand, Cambodia, Malaysia, and Vietnam. UFLPA continues to pose a risk.

Dry hydrological conditions in Panama, Brazil, Colombia and Chile can present challenges for our businesses in these markets. Low inflows can result in low reservoir levels, reduced generation output, and subsequently possible increased prices for electricity.

The overall economic climate in Argentina has deteriorated, resulting in volatility and increased the risk that a further significant devaluation of the Argentine peso against the USD may occur.

As of the end of the first quarter of 2024, the Company's backlog, which consists of projects with signed contracts, but which are not yet operational, is 12.7 GW, including 5.8 GW under construction.

AES Indiana will continue to be among the lowest residential rates of any investor-owned utility in Indiana.

If inflation continues to increase in our markets, it may increase our expenses that we may not be able to pass through to customers. Higher interest rates increase the financing costs for new projects under development and which have not yet secured financing.

General and administrative expenses increased $20 million, or 36%, to $75 million for the three months ended March 31, 2024, compared to $55 million for the three months ended March 31, 2023, primarily due to increased business development activity and higher people costs and professional fees.

We have contracted and secured our expected requirements for solar panels for U.S. projects targeted to achieve commercial operations in 2024.

We employ risk management strategies to hedge our financial performance against these effects. The implementation of these strategies can involve the use of physical and financial commodity contracts, futures, swaps, and options.

Adjusted EBITDA for the three months ended March 31, 2024 increased $9 million, primarily due to a reduction in losses at Fluence, driven by increases in margin on the newer Gen 6 solutions projects.

AES Indiana filed for approval of a CPCN seeking for IURC approval to repower Petersburg Generation Units 3 & 4 from coal to natural gas and to recover costs through future rates.

AES Ohio filed a Smart Grid Phase 2 with the PUCO proposing to invest approximately $683 million in capital projects over a 10-year period following the Smart Grid Phase 1, which ends June 2025.

Capital expenditures increased $597 million, primarily driven by an increase in U.S. renewables projects.

AES Ohio filed a Smart Grid Phase 2 with the PUCO proposing to invest approximately $683 million in capital projects over a 10-year period following the Smart Grid Phase 1, which ends June 2025.

During the first quarter of fiscal year 2024, The AES Corporation purchased 165,335 shares of AES Common Stock in a privately negotiated affiliate transaction from a wholly-owned subsidiary that had acquired such shares as part of a share ownership plan offered to employees.

We have made significant progress on our exit of coal generation, and we intend to exit the substantial majority of our remaining coal facilities by year-end 2025 and intend to exit all of the coal facilities by year-end 2027, subject to necessary approvals.

The Company is subject to numerous environmental laws and regulations in the jurisdictions in which it operates. The Company faces certain risks and uncertainties related to these environmental laws and regulations, including existing and potential GHG legislation or regulations.

DG Comp is conducting a preliminary review of whether AES Maritza's PPA with NEK is compliant with the European Union's State Aid rules. No formal investigation has been launched by DG Comp to date.

New Commerce regulations regarding AD/CVD cases went into effect, and a petition was filed requesting investigation into new AD/CVD duties on cells and modules from Thailand, Cambodia, Malaysia, and Vietnam. UFLPA continues to pose a risk.

Dry hydrological conditions in Panama, Brazil, Colombia and Chile can present challenges for our businesses in these markets. Low inflows can result in low reservoir levels, reduced generation output, and subsequently possible increased prices for electricity.

The overall economic climate in Argentina has deteriorated, resulting in volatility and increased the risk that a further significant devaluation of the Argentine peso against the USD may occur.