AES Pushes U.S. Renewables, But Keeps an Eye on Fossil Fuels

March 4, 2025--Researched by Industrial Info Resources (Sugar Land, Texas)--Power-generation developer AES Corporation (NYSE:AES) (Arlington, Virginia) is renewing its commitment to build out its 12-gigawatt (GW) renewable-project pipeline, 85% of which it expects to be online by 2027, while bolstering its liquefied natural gas (LNG) development in Central America and holding off on the expected closure of some coal-fired power plants. Industrial Info is tracking more than $45 billion worth of active and proposed projects globally from AES, about $26 billion of which is located within the U.S. AES plans to invest about $1.8 billion in new growth projects in 2025, more than 85% of which will be in the U.S. In a recent quarterly earnings-related conference call, several AES executives said the company achieved significant cost savings during 2024 by resizing its development program to focus on fulfilling its backlog and pursuing fewer--but larger--projects oriented to core customers. Other companies featured: Vestas Wind Systems A/S