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THE AES CORPORATION

(AES)
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AES to Supply Carbon-Free Energy for Google Data Centers in Virginia

05/04/2021 | 02:13pm EDT

By Stephen Nakrosis

Energy company AES Corp. on Tuesday said it will provide carbon-free electricity to power Google's Virginia-based data centers to help ensure the energy powering those data centers will be 90% carbon-free when measured on an hourly basis.

AES said it would supply the carbon-free electricity on a 24/7 basis under the 10-year supply contract.

AES said it will source the energy from wind, solar, hydro and battery storage resources which it will develop or contract.

AES said it assembled the 500 MW portfolio from its own renewable energy projects and those of third-party developers.

"This first-of-its-kind solution, which we co-created with Google, will set a new sustainability standard for companies and organizations seeking to eliminate carbon from their energy supply," said Andres Gluski, president and chief executive of AES.

"Not only is this partnership with AES an important step towards achieving Google's 24/7 carbon-free energy goal, it also lays a blueprint for other companies looking to decarbonize their own operations," said Michael Terrell, director of energy at Google. "Our hope is that this model can be replicated to accelerate the clean energy transition, both for companies and, eventually, for power grids."

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

05-04-21 1412ET

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 2.21% 2278.38 Delayed Quote.30.00%
DJ INDUSTRIAL 1.06% 34382.13 Delayed Quote.11.16%
THE AES CORPORATION 3.81% 25.37 Delayed Quote.4.00%
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Financials (USD)
Sales 2021 9 940 M - -
Net income 2021 1 038 M - -
Net Debt 2021 19 132 M - -
P/E ratio 2021 17,1x
Yield 2021 2,41%
Capitalization 16 903 M 16 903 M -
EV / Sales 2021 3,63x
EV / Sales 2022 3,57x
Nbr of Employees 8 162
Free-Float 81,1%
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Technical analysis trends THE AES CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 29,72 $
Last Close Price 25,37 $
Spread / Highest target 22,2%
Spread / Average Target 17,2%
Spread / Lowest Target -1,46%
EPS Revisions
Managers and Directors
NameTitle
Andrés Ricardo Gluski Weilert President, Chief Executive Officer & Director
Gustavo Pimenta Chief Financial Officer & Executive Vice President
John B. Morse Chairman
Sanjeev Addala Chief Information Digital Officer & Senior VP
Bernerd Raymond da Santos Ávila Chief Operating Officer & Executive Vice President
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