Aes announces intent to exit coal by 2025; reaffirms 7% to 9% annualized growth target through 2025; delivers on all 2021 financial and strategic objectives

Arlington, va., feb. 24, 2022 /prnewswire/ -- strategic accomplishments signed 5 gw of new renewables ppas in 2021, surpassing original target of 3 to 4 gw; backlog of new projects is now 9.2 gw grew pipeline of development projects to 59 gw increased ownership of aes andes to 99% from 67% in an accretive transaction, simplifying aes andes' shareholder base to enable more efficient growth in renewables fluence completed its ipo and began trading in november 2021 2021 financial highlights diluted eps of ($0.62), compared to $0.06 in 2020, primarily driven by a loss on the deconsolidation of the alto maipo hydroelectric project in chile adjusted eps1 of $1.52, compared to $1.44 in 2020 and 2021 guidance of $1.50 to $1.58 financial position and outlook announcing intent to exit coal by year-end 2025 versus prior expectation of a reduction to below 10% by year-end 2025, subject to necessary approvals initiating 2022 guidance for adjusted eps1 of $1.55 to $1.65 reaffirming 7% to 9% annualized growth target through 2025, off a base year of 2020 targeting signing 4.5 to 5.5 gw of new renewables under long-term ppas in 2022 the aes corporation (nyse: aes) today reported financial results for the year ended december 31, 2021.
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