AES and Meta Sign Long-Term PPAs to Deliver 650 MW of Solar Capacity in Texas and Kansas
AES and Meta Sign Long-Term PPAs to Deliver 650 MW of Solar Capacity in Texas and Kansas |
| [21-May-2025] |
Agreements Bolster AES' Position as the Energy Partner of Choice for Corporate Customers ARLINGTON, Va., May 21, 2025 /PRNewswire/ -- The AES Corporation (NYSE: AES) today announced that it has entered into twolong-term Power Purchase Agreements (PPA) to support Meta's data centers with 650 MW of solar projects that AES is bringing online in the Southwest Power Pool (SPP) market.
"AES is proud to partner with Meta to deliver reliable and affordable renewable energy that supports their data center growth and ambitious sustainability goals," said Andrés Gluski, AES President and Chief Executive Officer. "By providing energy solutions that offer fast time-to-power and low-cost electricity, we continue to be the partner of choice for companies, like Meta, at the forefront of artificial intelligence innovation." "We are thrilled to work with AES to bring forward these two solar energy projects," said Urvi Parekh, Global Head of Energy, Meta. "These solutions support our goal for 100% clean and renewable energy and will add new generation to the grid in these markets." In addition to supporting Meta's goals, these projects will provide employment opportunities and economic benefits to communities in Texas and Kansas, creating hundreds of construction jobs and contributing millions in long-term tax revenue to support local schools and counties. AES is the largest US-based global power company, with 32.7 GW in operation, a backlog of 12.3 GW of signed long-term PPAs, and a pipeline of 65 GW. AES has now signed 10.1 GW of contractual arrangements with major global hyperscalers, including 7.7 GW of long-term PPAs to build renewable capacity that supports their data center energy needs, furthering its position as a leading global energy provider for corporate customers, as recognized by Bloomberg New Energy Finance's (BNEF) 2024 Corporate Energy Market Outlook, which ranked AES as a top provider of clean energy to corporations for the third year in a row. About AES The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we're improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today. For more information, visit www.aes.com. Safe Harbor Disclosure This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our expectations regarding accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as the execution of PPAs, conversion of our backlog and growth investments at normalized investment levels, and rates of return consistent with prior experience. Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES' filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2024 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except where required by law. Any Stockholder who desires a copy of the Company's 2024 Annual Report on Form 10-K filed March 11, 2025 with the SEC may obtain a copy (excluding the exhibits thereto) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Annual Report on Form 10-K may be obtained by visiting the Company's website at www.aes.com. Website Disclosure AES uses its website, including its quarterly updates, as channels of distribution of Company information. The information AES posts through these channels may be deemed material. Accordingly, investors should monitor our website, in addition to following AES' press releases, quarterly SEC filings and public conference calls and webcasts. In addition, you may automatically receive e-mail alerts and other information about AES when you enroll your e-mail address by visiting the "Subscribe to Alerts" page of AES' Investors website. The contents of AES' website, including its quarterly updates, are not, however, incorporated by reference into this release. Investor Contact: Susan Harcourt 703-682-1204, susan.harcourt@aes.com
SOURCE The AES Corporation | ||
Company Codes: NYSE:AES |
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