AES(AES) Prnewswire·2025-02-28 11:00Core Insights - The AES Corporation anticipates 2025 to be a pivotal year with significant growth in renewables Adjusted EBITDA driven by completed projects and a substantial backlog of signed Power Purchase Agreements (PPAs) [2][12] - The company reaffirms its long-term growth rate targets, indicating a de-risked growth strategy primarily from signed projects and rate base growth at US utilities [2][3] 2024 Financial Highlights - Full year 2024 Net Income reached 880 million compared to 2023, attributed to higher contributions from renewables, lower impairments, and favorable foreign currency gains [3][6] - Adjusted EBITDA for 2024 was 189 million from 2023, mainly due to drought conditions and outages in Colombia [4] - Adjusted EBITDA with Tax Attributes for 2024 was 513 million compared to 2023, driven by more renewables projects placed in service [5] Strategic Accomplishments - The company signed or awarded 6.8 GW of new contracts, including 4.4 GW of renewables under long-term PPAs and 2.1 GW of data center load growth at AES Ohio [10][11] - AES was ranked the 1 provider of clean energy globally to corporations for the third consecutive year by BloombergNEF [10] - The company completed the construction or acquisition of 3.0 GW of renewables and a 670 MW combined cycle gas plant in Panama [10] Financial Position and Outlook - The company is initiating 2025 guidance for Adjusted EBITDA of 2,850 million, with growth expected from new renewables projects and rate base growth at US utilities [12][14] - The expectation for 2025 Adjusted EBITDA with Tax Attributes is set at 4,350 million [13] - The company reaffirms an annualized growth target of 5% to 7% through 2027, based on 2023 guidance [13][15]