The US utility and power generation company AES Corporation has announced plans to triple its renewable installed capacity by 2027. The group expects to add 25 to 30 GW of solar, wind and storage capacity by 2027, and to phase out of coal-fired power generation by the end of 2025. In addition, AES plans to strengthen its position in new energy technologies, including green hydrogen, and expects to deliver a 10% annual rate base growth at its US utilities.
In February 2023, the company said that it planned to add 3.4 GW of new renewable capacity over the course of 2023, including 2.1 GW in the United States. AES currently has about 15 GW of renewable capacity. At the end of 2022, alongside the US gas company Air Products, AES unveiled a US$4bn green hydrogen project in Texas.
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