AES Completes First Phase of Largest Solar-Plus-Storage Project in the United States

Bellefield Project Highlights AES' Track Record of Working with Corporate Customers

ARLINGTON, Va., June 11, 2025 /PRNewswire/ -- The AES Corporation (NYSE: AES) today announced that it has completed construction of the 1,000 MW Bellefield 1 project, under a 15-year contract with Amazon. Bellefield is a two-phase project, with each phase including 500 MW of solar and 500 MW of four-hour battery-based energy storage, for a total of 2,000 MW of installed capacity. Once completed, the 2,000 MW Bellefield project is expected to be the largest solar-plus-storage facility in the United States. 

"Completing the first 1,000 MW of Bellefield demonstrates how rapidly solar and storage can be deployed to meet the growing energy demand of data centers," said Andrés Gluski, AES President and Chief Executive Officer.  "Our best-in-class track record of delivering renewables projects on time and on budget is deeply valued by our customers and is one of our key competitive advantages."

AES has been consistently recognized by Bloomberg New Energy Finance (BNEF) as a top provider of clean energy to corporations, including technology companies. AES has contractual arrangements with major global hyperscalers for 10.1 GW, including the 2 GW Bellefield project.

To accelerate Bellefield's implementation and ensure system reliability, AES utilized Maximo, an AI-enabled robotic system developed by AES to assist construction crews, improving the safety, speed, and accuracy of solar module installation.

The 2 GW Bellefield project, located in Kern County, California, will generate equivalent to the annual electricity usage of 467,000 homes, displacing over 1 million metric tons of CO₂ annually, and improving air quality. More than 700 union jobs were created during the construction of Bellefield 1 and approximately 1,000 union jobs are expected to be created at the peak of construction of Bellefield 2, further supporting local businesses.

The Company expects to recognize the significant earnings associated with placing Bellefield 1 in service in the second half of this year, as planned.  Construction on Bellefield 2 is on track to be completed in 2026.

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.

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES' current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our expectations regarding accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as the execution of PPAs, conversion of our backlog and growth investments at normalized investment levels, and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES' filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, the risks discussed under Item 1A: "Risk Factors" and Item 7: "Management's Discussion & Analysis" in AES' 2024 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES' filings to learn more about the risk factors associated with AES' business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except where required by law.

Any Stockholder who desires a copy of the Company's 2024 Annual Report on Form 10-K filed March 11, 2025 with the SEC may obtain a copy (excluding the exhibits thereto) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Annual Report on Form 10-K may be obtained by visiting the Company's website at www.aes.com.

Website Disclosure

AES uses its website, including its quarterly updates, as channels of distribution of Company information.  The information AES posts through these channels may be deemed material.  Accordingly, investors should monitor our website, in addition to following AES' press releases, quarterly SEC filings and public conference calls and webcasts.  In addition, you may automatically receive e-mail alerts and other information about AES when you enroll your e-mail address by visiting the "Subscribe to Alerts" page of AES' Investors website. The contents of AES' website, including its quarterly updates, are not, however, incorporated by reference into this release.

Press Release

Investor Contact: Susan Harcourt 703-682-1204, susan.harcourt@aes.com 

Media Contact: Katie Lau 571-286-9362, katie.lau@aes.com

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SOURCE The AES Corporation