Description

AES’s 60% U.S. Renewables Expansion Signals A Pivotal Capacity Cycle!

The AES Corporation reported financial and operational results for the third quarter of 2025, affirming its full-year guidance and long-term growth targets. The company highlighted strong execution across its renewables and utility segments, with adjusted EBITDA rising to $830 million from $698 million year-over-year, and adjusted earnings per share increasing to $0.75 from $0.71 in the same period. This growth was primarily driven by the completion of new renewable projects, acceleration in U.S. utility rate base investments, and realization of cost savings initiatives, partially offset by divestitures such as the sale of AES Brazil and a stake reduction in AES Ohio. In the renewables segment, the company noted a 46% year-to-date increase in EBITDA, credited to the organic growth from new capacity additions—3 gigawatts brought online since the previous year—and improvements in operating margins due to scaling benefits and cost efficiencies. AES’s U.S.