AES - AES Sees Years of Growth Ahead as It Invests More in Clean Energy
2023-12-03 10:22:00 ET
With an $11 billion market cap, AES (NYSE: AES) isn't the largest utility around. But it does have a unique feature that most of its peers lack: global geographic diversification. That puts the company in a good position to benefit as the world embarks on a multidecade transition to cleaner energy sources. And AES is already starting to take advantage of the trends.
When AES held its investor day in May 2023, it listed four strategic actions that it would be taking. The list included things you might expect, like "invest in our U.S. utilities" and "exit coal" while maximizing gas and liquified natural gas. Those are common themes in the utility sector . But the other two items on the list were a bit more interesting, including "develop a leading green hydrogen platform," and, the No. 1 item on the list, "grow in carbon-free energy in select markets."
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AES Sees Years of Growth Ahead as It Invests More in Clean Energy