AES and Meta Ink 2 PPAs for 650 MW of Solar Projects in US

Core Insights - AES Corporation has signed two long-term Power Purchase Agreements (PPAs) with Meta for 650 MW of solar capacity to support data centers in Texas and Kansas [1] - The company is expanding its solar initiatives significantly, completing 643 MW of solar and energy storage projects in Q1 2025 [2] - Solar accounted for 66% of new electricity-generating capacity added to the U.S. grid in 2024, prompting AES to focus on increasing its renewable energy generation capacity [3] AES's Solar Market Presence - AES is actively scaling its solar power initiatives to meet rising demand in the U.S. solar market, driven by corporate investments [2] - As of March 31, 2025, AES has signed 7.7 GW of long-term PPAs to support renewable capacity for data centers [3] Project Developments - AES Indiana received regulatory approval for the 170 MW Crossvine solar-plus-storage project, expected to be operational by 2027 [4] - The company is also progressing on the 295 MW Petersburg Energy Center, anticipated to go live by the end of 2025 [4] - AES Indiana aims to bring up to 1,300 MW of new wind, solar, and storage capacity online by 2027 [4] Industry Growth Prospects - The solar market is experiencing significant growth opportunities due to favorable government policies and declining solar panel prices [5] - According to the U.S. Energy Information Administration, solar power generation is projected to increase by 34% in 2025 and 18% in 2026 [6] Competitor Activities - CMS Energy Corporation plans to add 9 GW of solar generation from 2025 to 2045, with a 250 MW solar energy center expected to be operational by 2026 [6] - Ameren Corporation's solar projects are expected to generate 500 MW of clean energy [7] - PPL Corporation is seeking approval for nearly 1 GW of solar generation by 2028 as part of its generation replacement strategy [8] Financial Estimates - The Zacks Consensus Estimate for CMS's 2025 earnings per share is $3.59, indicating a 7.5% year-over-year growth [7] - The Zacks Consensus Estimate for Ameren's 2025 earnings per share is $4.93, indicating a 6.5% year-over-year growth [8] - The Zacks Consensus Estimate for PPL's 2025 earnings per share is $1.82, indicating a 7.7% year-over-year growth [9]