AES and Sustain Our Future Foundation Collaborate with Microsoft to Accelerate Clean Energy and Social Impact in California

June 4, 2024

The AES Corporation (NYSE: AES) announced today a collaboration to strengthen their commitment to social impact and clean energy deployment through an impact investment of $1.5 million that benefits community partners in and around Kern County, California. The commencement of operations at its Raceway solar-plus-storage project will expand AES' renewables generation footprint in the County, and the funds will support environmental justice and community organizations in the region. Microsoft will purchase the energy generated by the 125 MW solar plus 80 MW battery energy storage facility, adding to a substantial portfolio of long-term agreements with AES.

The investment is a feature of a Power Purchase Agreement between AES and Microsoft and builds on AES’ commitment to strengthen positive impact through socioeconomic and environmental partnerships that improve lives today and in the future. AES has established more than 500 community-oriented initiatives globally, where more than 2 million people have had access to these initiatives as part of our social impact-centered approach to clean energy development. The agreement further supports Microsoft’s commitment to a sustainable future, directly tying renewable energy procurement with equitable opportunities for communities.

Sustain Our Future Foundation (SOFF) is the recipient of these funds. Over the next year, SOFF will deploy community-driven grant programs to distribute the funds to organizations in Kern County and across California, with a focus on workforce development and education, neighborhood sustainability and resilience projects and front-line community organizing and agency building.

“Our approach to renewable energy development aligns with our global sustainable impact strategy, which is focused on people, planet and accountability,” said Amanda Smith, Vice President of External Affairs for AES’ US Renewables Business. “As a top seller of clean energy to corporations globally, we’re working together with Microsoft to leverage our shared goals and co-create innovative solutions that achieve meaningful and long-lasting impact in the communities where we build and operate projects.”

“Our collaboration with AES and Microsoft exemplifies the growing practice of integrating environmental justice and equity into every facet of sustainable development. By using trust-based philanthropy and participatory grantmaking, we ensure that AES' financial commitments are directed to identified community needs,” said Yinka N. Bode-George, Founder and CEO of Sustain Our Future Foundation. “Through this collaboration we are not just building clean energy infrastructure; we're nurturing thriving, equitable futures.”

“Environmental justice has become a critical part of Microsoft’s renewable energy procurement strategy, and AES’ social impact framework and collaboration with Sustain Our Future Foundation ensured that we were well aligned,” said Danielle Decatur, Director of Environmental Justice at Microsoft. “Partnering with suppliers to ensure that environmental justice is central to how we achieve our decarbonization objectives is critical to the success of the global clean energy transition.”

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we’re improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today. For more information, visit www.aes.com.