AES Agrees to Sell its Equity Interest in AES Brasil for Approximately $640 Million

Core Viewpoint - The AES Corporation has agreed to sell its 47.3% equity interest in AES Brasil to Auren Energia for approximately $640 million, which will be used to fund the company's growth in renewable energy and U.S. utilities [1][2][3] Group 1: Transaction Details - The sale involves AES Brasil's 5.2 GW renewable energy portfolio, which consists of 51% hydroelectric, 43% wind, and 6% solar energy [3] - The transaction is expected to close in 4 to 6 months, pending customary closing approvals and the completion of a late-stage construction project [3] Group 2: Strategic Focus - AES aims to simplify its portfolio and strengthen its balance sheet by focusing investments primarily on renewable energy for corporate customers in the U.S. and expanding its utilities [2] - This transaction contributes to AES's goal of achieving over half of its $3.5 billion asset sale proceeds target through 2027 [2]