Incorporated in 1981, AES is a global energy company focused on accelerating the future of energy. The company's core business model involves developing and operating innovative solutions that enable the transition to zero and low-carbon energy sources. AES partners with large corporations transitioning to carbon-free electricity, particularly data centers. The company has a diverse workforce committed to innovation and operational excellence. AES operates in key markets across the U.S., South America, and Europe.

• Employees: 9,600 (approximately)
• Geographic Footprint: U.S., Brazil, Argentina, Colombia, Mexico, Panama, Bulgaria, Dominican Republic, Jordan, and the Netherlands.
• Headquarters: Arlington, Virginia
• Founded: 1981
• Number of locations/facilities: 99 generation facilities, 6 utility companies
• Revenue: $12.7 billion (FY2023)
• Key Subsidiaries/Brands: AES Clean Energy, AES Brasil, AES Indiana, AES Ohio, Fluence Energy, Uplight, 5B

• CEO: Andrés R. Gluski
• CFO: Stephen Coughlin
• Executive Vice President and President of the Renewables SBU: Bernerd Da Santos
• Executive Vice President and Chief Operating Officer: Ricardo Manuel Falú
• Executive Vice President, General Counsel, and Corporate Secretary: Paul L. Freedman
• Executive Vice President and Chief Human Resources Officer: Tish Mendoza

Key executives have extensive experience in the energy and finance sectors.

• Annual Revenue: $12.7 billion (FY2023)
• Net Income: -$182 million
• Total Assets: $45 billion
• Number of employees: 9,600 (approximately)
• Key Financial Highlights: Signed long-term contracts for 5.6 GW of renewables in 2023, completed construction of 3.5 GW, and secured $1.1 billion in asset sale proceeds.

• Renewable Energy: Solar, wind, energy storage, and hydro generation facilities.
• Utilities: Regulated electricity distribution and transmission.
• Energy Infrastructure: Natural gas, LNG, coal, pet coke, diesel, and oil generation facilities.
• New Energy Technologies: Green hydrogen initiatives and investments in Fluence, Uplight, and 5B.

The company focuses on providing greener energy solutions.

• Renewables: 23% of Adjusted EBITDA
• Utilities: 23% of Adjusted EBITDA
• Energy Infrastructure: 54% of Adjusted EBITDA
• New Energy Technologies: Generated losses for the year ended December 31, 2023

The company is organized into four technology-oriented SBUs.

AES's strategy focuses on partnering with large corporations transitioning to carbon-free electricity. Key strategic initiatives include:

• Expanding renewable energy capacity through long-term contracts.
• Developing green hydrogen production facilities.
• Transitioning utilities to lower carbon forms of energy.
• Incubating new technologies through AES Next.

The company aims to proactively seek solutions that will give it a continued competitive advantage.

• Primary Industry: Global energy sector
• Market Trends: Decarbonization, electrification, and digitalization are driving the transformation of the electricity sector. Demand from data centers is expected to nearly double in the next three years.
• Key Competitors: Not specified in the 10-K.

AES is a leader in developing and operating innovative solutions for the energy transition.

• Economic Risks: Economic climate impacts demand for electricity, and the global economy faces considerable uncertainty.
• Market Risks: Changes in electricity and fuel prices, and the ability to hedge exposure to market price risk.
• Financial Risks: Changes in financial markets and access to capital, ability to manage liquidity and comply with debt covenants.
• Operational Risks: Ability to operate facilities, manage costs, and enter long-term contracts.
• Regulatory Risks: Changes in laws and regulations affecting utilities and international businesses.