AES - AES Corp. discloses $450M-$550M impairment on Bulgaria power plant

AES Corp. (NYSE:AES) disclosed after Friday's close that it expects a pre-tax impairment charge of $450M-$550M related to Bulgaria's National Recovery and Resilience plan which commits the country to cease electricity generation using coal as a fuel source by 2038. AES Corp. (AES) expects the plan will prohibit its Maritza power plant in Bulgaria from operating beyond 2038. The company said the impairment charge is related primarily to limiting the useful life to 2038, but is not expected to impact Maritza's ability to perform its obligations under its current PPA through May 2026. AES Corp. (AES) offers defensive revenue in the face of economic and market volatility, and dividends likely will increase as the company grows, Bashar Issa writes in a bullish analysis published on Seeking Alpha.

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AES Corp. discloses $450M-$550M impairment on Bulgaria power plant