AES Corp (NYSE:AES) Upholds Positive Momentum In The Second Quarter


AES Corp (NYSE:AES) is a Fortune 500 global power provider that focuses in the delivery of affordable and sustainable energy. The company has a committed workforce that helps it meet the fast-changing power needs around the globe.

Current state of affairs

The President and Chief Executive Officer of the company Andrés Gluski outlines that even in the second quarter they made major progress. That is in line with the company’s strategic objectives such as greening its own portfolio, boosting efficiency and above all improving its credit profile.

Gluski opined, “Our cost savings initiative is on track to deliver $100 million in 2018. We brought on-line the 671 MW Eagle Valley CCGT in Indiana in April and will be inaugurating the 380 MW Colon CCGT and LNG regasification terminal in Panama later this month.”

It was recently that the business guru entered long-term contracts for 1,473 MW of renewable energy which brought its total backlog to 5,725 MW. AES Executive Vice President and Chief Financial Officer Tom O’Flynn applauded the company for the financial and strategic achievements witnessed so far.

Turn of events

AES finds itself a place again in the Dow Jones Sustainability Index (DJSI) for North America and reports indicate that it is for the fifth time. The business guru outlines that it is the fifth consecutive time getting to the point.

The business guru outperformed the industry average in terms of the total score. It showcased remarkable performance in social, environmental and economic categories. It also reveals that it received the best in class scores water related risks, environmental reporting, innovation management and policy influence.

Gluski says that RobecoSAM and DJSI recognized the company’s sustainability practices as top quartile. According to the official, their mission is to enhance lives by accelerating a greener and safer energy future.

The company has so far achieved a lot and that is from a close outlook at the past 18 months. It added about 2.7 GW of natural gas and renewable generation. AES remains committed to diverse environmental, economic and social initiatives.

The company wants to empower itself in the best way possible. It sees the need to equip itself so that it responds to emerging risks and opportunities accordingly.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.