AES(AES)2025-03-10 23:49Renewable Energy Capacity - The company's Renewables SBU has an operating installed capacity of 13,229 MW as of 2024, with an additional 3.7 GW added to the backlog of contracted projects[78]. - The company has a diverse portfolio of generation facilities, including hydro, solar, and wind, with various equity interests across projects[79]. - The company reported a total of 13,229 MW of renewable energy capacity across various projects, with significant contributions from solar, wind, and hydro sources[80]. - The hydro project Chiriqui-Esti in Panama has a capacity of 120 MW and is expected to operate until 2030, with a 49% efficiency rate[80]. - The solar project Uih Ela Ni in Hawaii has achieved a 100% efficiency rate with a capacity of 60 MW, operational from 2023 to 2048[80]. - The company has several projects in Argentina, including a hydro project Ullum with a capacity of 45 MW and a 100% efficiency rate, operational since 1996[81]. - The wind project Na Pua Makani in Hawaii has a capacity of 24 MW and is expected to operate until 2040, achieving a 100% efficiency rate[81]. - The company is expanding its energy storage capabilities, with projects like Westwing 2B in Arizona having a capacity of 59 MW and a 75% efficiency rate, operational until 2044[81]. - The solar project Bayasol in the Dominican Republic has a capacity of 50 MW and is expected to operate until 2036, with a 65% efficiency rate[81]. - The company is actively involved in energy storage projects, with the Laurel Mountain ES in West Virginia having a capacity of 16 MW and a 100% efficiency rate, operational since 2011[81]. - The company has multiple solar projects in Panama, including Esti Solar II with a capacity of 12 MW and a 49% efficiency rate, operational until 2044[81]. - The company is committed to renewable energy, with a focus on expanding its solar and wind projects across various regions, including the US, Panama, and Latin America[80][81]. Financial Performance and Reporting - The Adjusted EBITDA for the year ended December 31, 2024, reflects the performance of each SBU, with losses reported in the New Energy Technologies SBU[74]. - The Adjusted EBITDA metric is a key non-GAAP measure used to assess the operating performance of the SBUs[74]. - The company’s corporate activities are reported under "Corporate and Other" for financial reporting purposes, indicating no separate disclosure is required[75]. - The financial reporting includes detailed segment and geographic information to provide insights into the company's operational structure[75]. - AES recognized 9 billion[90]. - The majority of solar projects under AES Clean Energy have been financed with tax equity structures, which significantly influence earnings variability[88]. Project Development and Agreements - In 2024, AES Clean Energy signed or was awarded 3,506 MW of Power Purchase Agreements (PPAs), contributing to a backlog of 7.3 GW of projects expected to come online through 2027[90]. - AES Clean Energy's development pipeline has more than doubled since 2021, adding over 1 GW of high-quality projects to its backlog in 2024[85]. - AES Colombia is developing a pipeline of 1.3 GW of solar and wind projects, including six wind projects totaling 1,149 MW in La Guajira[96]. - AES Puerto Rico began construction on 485 MW of new renewables in 2024, supporting the territory's goal of 100% renewable energy by 2050[106]. - The Marahu Project, 70% owned by AES, secured a loan guaranty of 322 million drawn to date for construction costs[110]. - AES Indiana plans to add up to 1,300 MW of wind, solar, and battery energy storage by 2027 as part of its Integrated Resource Plan[135]. Market and Operational Insights - AES Indiana and AES Ohio are targeting a combined 10% annual growth in rate base, driven by the increasing demand from data centers related to generative artificial intelligence[115]. - AES Indiana's total annual operating revenue increased by 1.2 billion for transmission, distribution, and storage improvements from 2020 to 2026[134]. Regional Operations and Capacity - AES operates plants in Argentina totaling 1,407 MW, representing 3% of the country's total installed capacity[91]. - AES Dominicana has three operating subsidiaries, each owned 65% by AES, with a total of 150 MW capacity from solar and wind farms[104]. - AES Brasil's installed capacity increased from 2.7 GW in 2016 to 5.2 GW at the time of sale in 2024, with a diversified portfolio including hydro (2,658 MW), wind (2,189 MW), and solar (328 MW) generation[112]. - AES Chile has a 99.5% ownership interest in AES Andes and a 100% ownership interest in AES Pacífico Chile, which was created in 2024 to advance new renewable capacity[165]. - AES Chile is the second largest generation operator in Chile with an installed capacity of 3,685 MW, holding approximately 10% market share as of December 31, 2024[165]. - AES Argentina operates plants totaling 2,820 MW, representing 7% of Argentina's total installed capacity, with 75% of energy sold in the wholesale market in 2024[187][188]. - AES Vietnam's Mong Duong 2 plant has a gross capacity of 1,242 MW and is under a BOT agreement expiring in 2040; AES plans to sell its 51% interest by early 2026[188][189]. Environmental and Regulatory Developments - The company has committed to not building additional coal-based power plants and is advancing new renewable projects as part of its Green Blend strategy[167]. - The EPA's 2023 Federal Implementation Plan addresses air quality impacts and includes a revised trading program for NO emissions in 22 states[266]. - The EPA published a final rule in May 2024 to revise the Mercury and Air Toxics Standard (MATS) for coal and oil-fired electric generating units[273]. - The Colombian electricity sector has a reliability mechanism triggered under specific hydrological conditions, which was first activated from late September 2024 to late November 2024[253].