Renewables SBU Growth
The Renewables Strategic Business Unit (SBU) reported a significant 56% increase in adjusted EBITDA for the second quarter, reaching $240 million due to the addition of 3.2 gigawatts of new projects.
Record Project Backlog
AES reported a 12 gigawatt backlog of signed Power Purchase Agreements (PPAs), with 1.6 gigawatts signed this quarter alone, including a significant agreement with Meta. This solidifies AES's position as a leading provider of renewables to data centers.
Strong Financial Performance
AES achieved an adjusted EBITDA of $681 million in Q2 2025, up from $658 million the previous year, and an adjusted EPS of $0.51, marking a 34% increase from $0.38 in the prior year.
Utilities Investment Program
AES is executing the largest investment program in AES Indiana and AES Ohio's history, with $1.4 billion planned for 2025. This includes projects like the Pike County energy storage project and the Petersburg Energy Center.
Forward Guidance Reaffirmed
AES reaffirmed its 2025 guidance for adjusted EBITDA of $2.65 billion to $2.85 billion and EPS guidance of $2.10 to $2.26, driven by strong performance in renewables and utilities.