The AES Corporation (AES or 'the company') is a global power company providing sustainable energy through a portfolio of distribution as well as coal-fired, natural gas and renewable generation facilities. The company owns electricity generation and distribution businesses across four continents in 17 countries, with generation capacity totaling approximately 36,693 gross megawatts (MW) and distribution networks serving over 9.4 million utility customers during FY2016. The company has operations in the Americas, Europe, Africa, and Asia. AES operates two primary types of businesses. The first is generation business, where it owns and/or operates power plants to generate and sell power to customers such as utilities, industrial users and other intermediaries. The second is the utilities business, where the company owns and/or operates utilities to generate or purchase, distribute, transmit and sell electricity to end-user customers in the residential, commercial, industrial and governmental sectors within a defined service area. AES carries these operations through six market-oriented strategic business units (SBU): Brazil SBU; the US SBU; Andes (Chile, Colombia, and Argentina) SBU; MCAC (Mexico, Central America and Caribbean) SBU; Europe (formerly EMEA) SBU; and Asia SBU. Under the generation business, AES owns and/or operates a generation portfolio of approximately 30,379 MW. The generation business sells electricity under medium or long-term contracts (contract sales) or under short-term agreements in competitive markets (short-term sales). Approximately 34% of the company's generation fleet is coal-fired; 33% generation plants are fueled by natural gas; 27% are fueled by renewables, including hydro, wind and energy storage; and 6% utilizes oil, diesel and petroleum coke for fuel. In addition, AES owns and operates about 8,228 MW of renewable generation, including hydro, wind, energy storage, biomass and landfill gas during FY2016. Moreover, AES' eight utility businesses distribute power to over 9.4 million customers in three countries. The two utilities in the US also include generation capacity totaling 6,314 MW. These businesses have a variety of structures ranging from integrated utility to pure transmission and distribution businesses. The company’s Brazil SBU has generation and distribution businesses. The company's Brazil SBU serves around 8.2 million customers with gross generation capacity of 3,298 MW through AES Tiete and AES Uruguaiana as of FY2016. Under Brazil SBU, the company has an operating installed capacity of 2,658 MW in AES Tiete plants (12 hydroelectric power plants), located in the state of Sao Paulo. It also has another gas-fired combined cycle power (CCP) generation plant, AES Uruguaiana, located in southern Brazil with an installed capacity of 640 MW. In addition, AES owns interests in two distribution businesses in Brazil, Eletropaulo and Sul. Eletropaulo operates in the metropolitan area of Sao Paulo and adjacent regions, distributing electricity to 24 municipalities in a total area of 4,526 square km. It serves approximately 18 million people and 7 million consumer units during the year. The company's US SBU has 18 generation facilities and two integrated utilities in the US with a total installed capacity of 11,929 MW. AES has two integrated utilities in North America, Indianapolis Power & Light (IPL) parent company, IPALCO Enterprises and DPL. IPALCO generates, transmits, distributes, and sells electricity to approximately 490,000 retail customers in the city of Indianapolis and neighboring areas within the state of Indiana. Also, IPL owns and operates four generating stations. For FY2016, IPL's net electric generation capacity for winter was 2,993 MW and net summer capacity was 2,878 MW. In addition, DPL is an energy holding company whose principal subsidiaries include DP&L, and DPLE. DP&L generates, transmits, distributes and sells electricity to approximately 519,000 customers in a 6,000 square mile area of West Central Ohio. DP&L, solely or through jointly owned facilities, owns 2,510 MW of generation capacity and numerous transmission facilities. DPLE owns peaking generation units representing 556 MW located in Ohio and Indiana. Moreover, AES's generation business in the US includes AES Southland which operates three gas-fired plants in the Los Angeles basin with generation capacity of 3,941 MW. Other significant additional generation facility includes AES Hawaii, which are into thermal and wind generating facilities. The company's Andes SBU includes generation facilities in three countries; Chile, Colombia, and Argentina region. AES Gener, which owns all of the assets in Chile, Chivor in Colombia and TermoAndes in Argentina, has been publicly listed company in Chile. As of December 31, 2016, the SBU possesses gross generation capacity totals 9,308 MW of which 44% is located in Argentina, 45% in Chile and 11% in Colombia respectively. In Chile, AES Gener is engaged in the generation and supply of electricity in two principal markets, the SIC and SING. AES Gener is the second largest generation operator with an installed capacity of 4,131 MW, excluding energy storage and TermoAndes. AES Chivor, a subsidiary of AES Gener, owns a hydroelectric facility with installed capacity of 1,000 MW, located approximately 160 km east of Bogota. During FY2016, AES Gener's net power production in Colombia was 4,373 gigawatt hour (GWh). Moreover, AES Argentina operates 4,105 MW with a diversified generation portfolio of ten generation facilities, comprised of 68% thermoelectric and 32% hydroelectric capacity. It primarily sells its production to the wholesale electric market where prices are largely regulated. The MCAC SBU consists of a portfolio of distribution businesses and generation facilities, including renewable energy, in five countries, with a total capacity of 3,239 MW and distribution networks serving 1.4 million customers as of December 31, 2016. The SBU's distribution businesses are located in El Salvador and consist of four companies, each of which operates in defined service areas. AES Dominicana consists of three operating subsidiaries, Itabo, Andres and DPP. Itabo, 45%-owned by AES, owns and operates two thermal power generation units with a total of 295 MW of installed capacity. Andres and DPP are owned 90% by AES and 10% by Estrella-Linda. Andres has a combined cycle gas turbine and generation capacity of 319 MW as well as the only LNG import facility in the country, with 160,000 cubic meters of storage capacity. DPP (Los Mina) has two open cycle natural gas turbines and generation capacity of 236 MW. Both Andres and DPP have in aggregate 555 MW of installed capacity, of which 450 MW is mostly contracted until 2018 with government-owned distribution companies and large customers. In Panama, AES owns and operates five hydroelectric plants and one thermoelectric power plant, Estrella del Mar I representing 705 MW and 72 MW of hydro and thermal capacity respectively, for a total of 777 MW equivalent to 23% of the installed capacity. In Mexico, AES has 1,055 MW of installed capacity, including the 550 MW Termoelectrica del Golfo (TEG) and Termoelectrica Penoles (TEP) facilities and Merida III (Merida), a 505 MW generation facility. Moreover, AES owns and operates a coal-fired cogeneration plant and a recently acquired solar plant of 524 MW and 24 MW, respectively, representing approximately 9% of the installed capacity in Puerto Rico. Also, AES is the majority owner of four of the five distribution companies operating in El Salvador. The Europe SBU consists of generation facilities in five counties. The European region covers Bulgaria, Jordan, Kazakhstan, the Netherlands, and the UK. During FY2016, AES served customers with operating gross installed capacity of 6,619 MW through 12 generating facilities. In Bulgaria, the company owns Maritza plant, a 690 MW lignite fuel plant. AES also owns an 89% economic interest in the St. Nikola wind farm with 156 MW of installed capacity. In the UK, AES' generation businesses operate in the Irish Single Electricity Market (SEM) for the businesses located in Northern Ireland (1,726 MW). The Northern Ireland generation facilities consist of two plants within the Greater Belfast region. The Kilroot plant is a 701 MW coal-fired plant with 10 MW of energy storage facility and the Ballylumford plant is a 1,015 MW gas-fired plant. In Kazakhstan, AES’ businesses act as merchant plants for electricity sales by entering into bilateral contracts directly with consumers for periods of generally no more than one year. In Jordan, AES has a 37% controlling interest in Amman East, a 381 MW (gross) oil/gas-fired plant fully contracted with the national utility under a 25-year PPA. It also has a 36% controlling interest in the IPP4 plant in Jordan, a 250 MW (gross) oil/gas-fired peaker plant fully contracted with the national utility under a 25-year PPA. The company's Asia SBU has generation facilities in three countries. Its operating installed capacity totaled 2,300 MW during the year with five generating facilities. In India, AES operates Odisha Power Generation Corporation (OPGC), 420 MW coal-fired generation facility located in the state of Odisha. In Philippines, the company operates Masinloc power project, a 630 (gross) MW coal-fired plant located in Zambales, Philippines and is interconnected to the Luzon Grid. AES operates Mong Duong II power project in Vietnam which is a 1,240 MW gross coal-fired plant located in Quang Ninh Province and was constructed under a BOT contract (the project will be transferred to Vietnamese government after 25 years).
Scope of the Report
-- About the Company - Historical Details, Current Ownership Structure and basic overview of The AES Corporation in terms of revenue, net income, and operating income.
-- Financials - Details about The AES Corporation listing status, annual financial reports (for the past 5 years), key financial highlights and region wise and category wise breakdown of their net revenue.
-- Products / Services - Listing of the company’s entire portfolio along with description of individual products / services providing a clear picture of their target audience.
-- Company SWOT Analysis - Outlines The AES Corporation’s strengths, weaknesses, and opportunities and threats facing the company.
-- Recent Developments - Showcases The AES Corporation’s recent developments including mergers, acquisitions, partnerships, collaborations, new product launches, investment and divestment plans.
-- Strategic Evaluation - Provides an overview of The AES Corporation’s corporate goals and strategic initiatives and evaluates their outcomes along with outlining any persisting legal issues and outlook of our in-house analyst panel on the particular company.
-- Technology Landscape - Details how the company allocates its IT budget across the core areas of its business, CIO/CTO Profile, Key IT Initiatives and Deals undertaken buy the company at present along with outlook.
Key Questions Answered
-- What domain does The AES Corporation operate and what are key points about it?
-- What is the product / service portfolio of The AES Corporation?
-- How has The AES Corporation performed financially from the 2013?
-- How does The AES Corporation rank among its peers in terms of revenue and market share?
-- What are The AES Corporation strengths and weaknesses and what opportunities and threats does it face?
-- What are The AES Corporation’s main growth strategies and how successful has the company been at implementing them?
-- What is the in-house technical capability of The AES Corporation? Where does it procure / outsource it?
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1. About the Company
1.1 History and Basic Facts
1.2 Ownership Structure and Key Executives
1.3 Head Office
1.4 Other Locations & Subsidiaries
1.5 List of Competitors
1.6 Employee Count & Distribution
2.1 Company Type (Listed / Unlisted)
2.2 Annual Statements
2.3 Key Financial Highlights
2.4 Region-wise Breakdown
3. Product / Services
4. SWOT Analysis
4.1 SWOT Overview
5. Recent Developments
5.1 Mergers & Acquisitions
5.2 Partnerships, Collaborations & Joint Ventures
5.3 New Product Launches
5.4 Business Expansion / Divestment
6. Strategic Evaluation
6.1 Corporate Strategy
6.2 Legal Issues
6.3 Analyst Outlook
7. Technology Landscape
-- 7.1.1 Industry Snapshot
-- 7.1.2 IT Spend
-- 7.1.3 Key Information Technology Trends
-- 7.2.1 IT Overview
-- 7.2.2 Key IT Technologies
-- 7.2.3 Recent IT Initiatives
-- 7.2.4 IT Outsourcing Engagements
-- 7.2.5 Key IT Management
-- 7.2.6 CIO/CTO Profile
-- About Us
-- Contact Us