AES and Wells Fargo: Forging What’s Next
Together, we’re innovating to decarbonize the economy.
Our innovative decarbonization solutions are changing how the world is powered.
Highest standards for slowing climate change
AES President and CEO Andrés Gluski: Decarbonizing the economy is a tremendous challenge. AES is the biggest supplier of renewable energy to corporations in the world and to the large tech companies, which have the most ambitious goals and also the highest standards. We’ve been an innovator in bringing new technologies to the sector.
Why companies turn to AES to meet their decarbonization goals
AES named #1 in clean energy globally for corporations
AES claimed the top spot as the #1 global clean energy developer for corporations in 2021 and 2022 according to BloombergNEF (BNEF).
Accelerating progress toward our own ambitious climate targets
We’re on track to exit the majority of our remaining coal generation by 2025, triple renewables capacity by 2027 and reach net-zero emissions from electricity sales by 2040.
AES is leading a responsible and just transition
We are leading the energy transition journey across energy security, green electricity and the electrification of everything.
Enabling the energy industry to rapidly decarbonize through our innovative businesses
Our scalable businesses in energy storage, digital energy efficiency, innovative solar solutions and electric vehicles are growing rapidly to enable other organizations to meet their sustainability goals.
Driving clean energy policy
We work with industry peers and governments to drive reliability, affordability and clean energy adoption.
Empowering individuals to easily reduce their carbon footprint
Together with our partners, we’ve supported the launch of new technologies that makes it easier for individuals to choose to shift to greener energy sources right from home.
How AES and Wells Fargo are forging what’s next to accelerate energy transition
Renewables leadership
AES is leading the global energy transition, partnering with customers to help achieve ambitious sustainability goals and developing the renewable energy solutions the world needs to decarbonize.
Renewable energy is rising. Our energy infrastructure needs to keep pace.
AES Executive Vice President and President of Global Renewables Bernerd Da Santos discusses why AES has invested heavily in several key renewables-based technologies that will play a crucial role in ensuring energy security while addressing the preeminent challenge of climate change.
Building Mississippi’s first utility-scale wind farm
Revolutionizing Mississippi’s energy landscape is just one of the benefits of the AES partnership with Amazon for the state’s first utility-scale wind farm. The 184.5 MW wind farm is expected to generate enough clean electricity to power over 80,000 homes while preserving agricultural land uses and generating tens of millions of dollars in local tax revenue.
State-of-the-art solar+storage system in Latin America
The state-of-the-art Andes IIB project incorporates 180 MW of solar power with 112 MW of 5-hour duration battery energy storage, making it the largest system of its kind in Latin America. Andes Solar IIb included the development of a 10 MW pilot project using AES partner 5B's innovative Maverick technology; these prefabricated, modular structures allow panels to be installed in one-third the time and on half the footprint of conventional solar systems.
Delivering Arizona’s largest wind farm
AES' Chevelon Butte wind project is a 454 MW landmark project in Arizona’s history as the state’s largest wind farm and the first new wind farm developed in over 10 years. The project will deliver cost competitive renewable energy to Arizona while operating on one of the oldest working cattle ranches in the state at the Chevelon Butte Ranch in Coconino and Navajo Counties.
World’s first virtual reservoir
AES Chile’s virtual reservoir is the world's first energy storage system to integrate a lithium ion battery bank into a run-of-river hydroelectric plant to strength Chile’s electrical system. The Virtual Reservoir stores energy from a run-of- river hydroelectric plant without the need to build a physical dam or water reservoir.
Green energy innovation
We are pioneers leading the development of new technologies that drive the energy transition forward, faster and at scale.
AES and innovation
Since our founding, AES has been a pioneer in energy innovation — from the first battery energy storage solution to one of the largest green hydrogen projects. We've always at the forefront of change.
AES and Air Products advancing green H2 innovation
Driven by leading expertise in innovation, efficiency and technological cost reduction, AES and Air Products joined together to build the United States’ first mega-scale green hydrogen production facility in Texas. Green hydrogen is essential technology for reaching net zero emissions goals, particularly in difficult to decarbonize sectors like transportation and industry.
Accelerating hydrogen infrastructure development through hydrogen hubs
AES was selected by the U.S. Department of Energy to receive grants of up to $2.4 billion as part of two regional Clean Hydrogen Hubs. Together with our joint venture in North Texas with Air Products, it consolidates AES' position as one of the leaders in producing green hydrogen in America.
First-of-its-kind solar robot
AES developed a first-of-its-kind solar installation robot to enhance the speed, efficiency and safety of scaling solar. The robot will complement our skilled workforce by keeping them safe and performing the heavy lifting, placing and attachment of solar modules while adding new high-tech jobs.
Unfolding the power of solar energy
Together with 5B, we’re removing common barriers to solar deployment to enable companies to add solar resources 3X faster while providing 2X more energy within the same footprint of traditional solar facilities.
Smart grid
Resilient transmission & distribution infrastructure and digital solutions to enable the energy transition
A partnership with X, the moonshot factory to develop the grid of the future
AES partnered with X, the moonshot factory to develop grid virtualization technologies that facilitate decarbonization, improve efficiency and reliability, optimize for renewables and enhance prediction and planning for weather events. This is just one of our innovative solutions to global energy challenges derived from a 10-year strategic alliance with Google.
Women building the grid of the future
Since 2016, AES El Salvador, in alliance with the Ciudad Mujer program by the Ministry of Local Development, has supported career development for 650+ women by providing technical training for women electricians through the Residential Electrical Installations Course. This course is aimed at women who wish to acquire the skills and knowledge to carry out reliable, efficient and safe electrical installations and receive a certification as Electrical Technicians by the General Superintendency of Electricity and Telecommunications (SIGET).
Partnering on grid enhancing technologies
AES and LineVision launched a joint project to assess how Grid Enhancing Technologies (GETs) may increase transmission capacity on the existing power grid. Through this pilot, we will gather data using Dynamic Line Ratings (DLR) to evaluate how LineVision can optimally integrate power from renewable energy sources.
AES’ Uplight provides solutions to serve utility customers around the globe
Serving over 80 utilities around the globe, AES’ Uplight develops digital technologies and third-party service provider networks designed to enhance utility customer experience and accelerate clean energy transformation. Our results speak for themselves, saving customers over $390 million on energy bills through a portfolio of more than 15 solutions.
Reliable, greener energy
Delivering diverse and tailored solutions to ensure reliability and accelerate a responsible and just energy transition.
Accelerating responsible and just energy transitions
Juan Ignacio Rubiolo, Executive Vice President and President, Energy Infrastructure, discusses how achieving a clean energy future requires meaningful consideration of the unique circumstances of each country and customer, and must balance environmental sustainability, energy security and resilience, and affordability and inclusiveness.
Breaking the Dominican Republic’s reliance on oil
Energas and AES Dominicana’s joint venture EnaDom broke the Dominican Republic’s reliance on oil by shifting conventional energy generation to natural gas. We achieved this through newly developed infrastructure and delivery solutions where these did not exist, converting 750 MW to cleaner, more reliable energy and saving the country over $3 billion, eliminating 892,000 tons of CO2 emissions annually.
World’s first coal conversion project using molten salts
AES Andes is creating the world’s first project in the world to convert a coal-fired power plant into a 560 MW emissions-free storage system using molten solar salts. The project also involves training the workers at the current power plant in the new technology to preserve employment opportunities.
Reliably transitioning Chile’s energy mix with energy storage
Together with the Government of Chile, we’re adding 1,500 MWh of energy storage by 2023 while retiring 1 GW of coal by 2025, reducing the country’s dependence on conventional generation at the same time. With innovative and competitive energy solutions, we plan to increase renewables in the country by 173% by 2025.
Investing $1.8 billion in Vietnam’s energy future
Together with the Government of Vietnam, AES Vietnam is investing $1.8 billion USD in that country’s energy future through the Son My II combined cycle gas turbine (CCGT) project. This 20-year contract complements AES’ investment plans in Vietnam’s gas infrastructure, both diversifying the current energy mix with imported LNG and meeting the region's increasing demand for sustainable and affordable electricity.
A clean energy pilot project provides a new green solution
Launched in July 2021, AES' innovative clean energy pilot project for customers in Mexico, Central America and the Caribbean provided the first carbon-neutral natural gas shipment to the Dominican Republic. These shipments enable companies in the region to purchase carbon credits and use a fuel that fully offsets their carbon footprint, in turn helping them to achieve their sustainability commitments.
Together with communities toward a responsible, inclusive and just transition
We are improving lives and empowering communities to advance a low carbon future through our impact on our planet and people.
Brazil’s first wind farms operated by women
AES Brasil, together with SENAI, graduated 100+ talented women from the Technical Specialization course in Maintenance and Operation of Wind Farms. AES Brasil’s Cajuína Wind Complex will become the second wind project to be operated entirely by women, following our Tucano Wind Complex in Bahia. These two wind farms are now the first in the country to have exclusively female teams overseeing local operation and maintenance.
Growing agrivoltaics in Massachusetts
AES’ Grafton solar project is an innovative 2 MW AC community solar farm with 1.4 MW AC of battery energy storage that combines clean energy production, crop cultivation, and research partnerships to advance the field of agrivoltaics.
Developing the workforce of the future in Hawaii
In 2022, AES retired 206 MW of coal generation and signed agreements for 431 MW of new solar, wind and energy storage projects in Hawaii. In advance of retirement, we worked with stakeholders to develop a responsible transition plan.
Reforesting Panama’s coastlines
In a partnership between AES Panamá Foundation and Wetlands International near AES’ Colón facility, 40+ AES volunteers supported the reforestation and cleanup of a protected area by planting 300 mangroves native to the area. Mangroves increase biodiversity and serve as a natural barrier for Panama’s coastlines, which helps to address a range of challenges, including climate change mitigation and ensuring food and water security.
More about AES and sustainability
Find out what we’ve been doing to accelerate a net-zero future.
Improving Lives Report 2022
ESG Indicators
AES announces winners of 2023 Energy Innovation Challenge
Pioneering end-of-life solar panel solutions
AES acquires largest permitted solar + storage project in the US
AES announces next decarbonization milestone
FAQs
Alok Garg of Wells Fargo Corporate & Investment Banking says that the biggest challenge renewable energy clients are facing right now is "access to capital. Wells Fargo's structured innovative bond program for AES, first of the kind in the industry, where our client can use a single set of documents to issue multiple tranches. Wells Fargo is really trying to be at the cutting edge in terms of helping clients grow and scale their businesses."
Andrés Gluski, President & CEO of The AES Corporation, says "Decarbonizing the economy is a tremendous challenge. And we're not going to get there just by doing more of the same. We’ve been an innovator in bringing new technologies to the sector. AES invented the 24/7 hourly match renewable product. This ensures that the energy they're actually consuming is renewable."
According to AES' Andrés Gluski, "Our clients’ needs are changing. So you need a partner like Wells Fargo who deeply understands this market. Wells Fargo works with us to find new ways to satisfy our needs in a very rapidly growing market."
As the biggest supplier of renewable energy to corporations, AES is innovating solutions that decarbonize the economy. It’s helping the most climate ambitious companies ensure the energy they consume is renewable around the clock even when the sun isn’t shining and the wind isn’t blowing. Over the last nine years, Wells Fargo has raised $4 billion for AES, says Alok Garg, Head of Renewables & Asset Finance at Wells Fargo Corporate & Investment Banking.
70% of the world’s internet traffic passes through Virginia and the AES' Spotsylvania Solar Center is the largest solar facility east of the Rocky Mountains.
Curry Roberts, President, Fredericksburg Regional Alliance, says, "AES has been very engaged with the community. In the next 15 to 20 years, there'll be about 25 million square feet of data centers planned for our region."