The AES Corporation
The AES Corporation is a Delaware-incorporated public company headquartered at 4300 Wilson Boulevard, Arlington, Virginia, and listed on the New York Stock Exchange under the ticker AES (SEC CIK 0000874761). Originally organized in 1981, the company remains an active SEC registrant with a continuous filing history through its most recent Form 10-K, filed March 2, 2026, covering fiscal year 2025.
AES is a global energy holding company that develops, owns and operates power generation and distribution businesses through hundreds of project-level subsidiaries and joint ventures. Its portfolio spans conventional thermal generation, solar, wind and energy storage, together with two regulated electric utilities in the United States, AES Indiana (formerly Indianapolis Power and Light) and AES Ohio (formerly Dayton Power and Light). The company serves utility, corporate and industrial customers, including long-term power purchase agreements supplying clean energy to large corporate and data-center customers.
For fiscal year 2025, AES reported consolidated revenue of approximately 12.23 billion US dollars, a slight decrease from approximately 12.28 billion US dollars in fiscal year 2024.
On March 2, 2026, The AES Corporation entered into a definitive merger agreement to be acquired by a consortium led by Global Infrastructure Partners and EQT Infrastructure VI, together with the California Public Employees Retirement System (CalPERS) and the Qatar Investment Authority, in an all-cash transaction valuing the company at 15.00 US dollars per share, representing approximately 10.7 billion US dollars in equity value and approximately 33.4 billion US dollars in enterprise value. The transaction, disclosed in AES’s preliminary and definitive merger proxy statements filed with the SEC, remains subject to stockholder and regulatory approval and is expected to close in late 2026 or early 2027; AES Indiana and AES Ohio are expected to continue operating as locally managed regulated utilities following completion. The same day, Ricardo Manuel Falu was named President of The AES Corporation.
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Shareholders
3
The AES Corporation is a publicly traded NYSE-listed company (ticker: AES), and its stock is widely held. Disclosure is limited to major institutional shareholders who report beneficial ownership above regulatory thresholds under SEC Schedule 13D/13G rules, rather than a complete shareholder register. Based on Schedule 13G/13G-A filings with the SEC, the largest disclosed institutional holder is Vanguard Capital Management, reporting 52,416,485 shares (approximately 7.35% of the class) as of an event date of March 31, 2026. Other disclosed holders include FMR LLC and Abigail P. Johnson, reporting approximately 40.59 million shares (approximately 5.7% of the class) as of an event date of March 31, 2025, and Capital International Investors, reporting approximately 29.15 million shares (approximately 4.1% of the class) as of an event date of December 31, 2024. Additional institutional holders, including BlackRock, Inc. and State Street Corporation, have separately reported stakes in the mid-single-digit percentage range in prior filings. These filings reflect beneficial ownership reported for investment-management purposes and are each dated as of the filer’s own stated reporting date rather than a single common date.
### Data availability
As a US-listed public company, shareholder disclosure for The AES Corporation follows SEC beneficial-ownership reporting thresholds (5% Schedule 13D/13G filers). This is major shareholders only: it does not represent AES’s complete shareholder base, which also includes retail and additional institutional holders below the reporting threshold.
### Sources
– SEC EDGAR, Schedule 13G (Vanguard Capital Management), subject company AES Corp/The, event date 2026-03-31, https://www.sec.gov/Archives/edgar/data/874761/000210011926000107/xslSCHEDULE_13G_X02/primary_doc.xml, retrieved 2026-09-16
– SEC EDGAR full-text search results, Schedule 13G/A filings (FMR LLC / Abigail P. Johnson; Capital International Investors), https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000874761&type=SC+13G, retrieved 2026-09-16
| Shareholder | Type | Holding | Source Document |
|---|---|---|---|
| Vanguard Group Inc | 18.6% | Virginia State Corporation Commission | |
| SELECT SECTOR SPDR TRUST-State Street Utilities Select Sector SPDR ETF | 2.5% | Virginia State Corporation Commission | |
| Fidelity Concord Street Trust-Fidelity 500 Index Fund | 1.9% | Virginia State Corporation Commission |
Officers
5
The AES Corporation’s executive leadership and board are disclosed through its SEC filings and official investor-relations materials. Andres Gluski has served as Chief Executive Officer since 2011 and continues in that role as of the information date below. Stephen Coughlin has served as Executive Vice President and Chief Financial Officer since October 2021. Ricardo Manuel Falu was appointed President of The AES Corporation effective March 2, 2026, the same date the company announced its proposed acquisition. AES’s board of directors is elected annually; the company’s 2026 annual meeting proxy materials disclosed nine director nominees for one-year terms, a majority-independent board with separate Chief Executive Officer and Chair roles, an average director tenure of approximately 7.1 years, and five standing board committees (Audit, Compensation, Finance, Governance, and Innovation and Technology), each chaired by an independent director. The 2026 annual meeting was scheduled to be held virtually on April 29, 2026.
### Recent officer changes
– Ricardo Manuel Falu appointed President of The AES Corporation, effective March 2, 2026.
– Stephen Coughlin appointed Executive Vice President and Chief Financial Officer, effective October 2021.
### Data availability
As a US SEC registrant, The AES Corporation discloses its executive officers and directors through its annual proxy statement (DEF 14A/DEFM14A) and Form 10-K. Nationality is not a field disclosed in these filings, so officer and director nationality is not disclosed. Country of residence was also not confirmed from the sources reviewed. Information reflects sources retrieved in September 2026.
### Sources
– AES Corporation official website, leadership biography page for Andres Gluski, https://www.aes.com/andres-gluski, retrieved 2026-09-16
– SEC EDGAR, The AES Corporation merger proxy statement (DEFM14A), https://www.sec.gov/Archives/edgar/data/874761/000114036126021662/ny20067536x2_defm14a.htm, retrieved 2026-09-16
Group Structure
The AES Corporation is a publicly traded (NYSE: AES) global energy holding company and, as of the information date below, has no verified corporate parent; it is the ultimate parent of its own consolidated group. Per its most recent Form 10-K (fiscal year 2025, filed March 2, 2026), the company’s Exhibit 21.1 subsidiary list identifies several thousand direct and indirect subsidiaries, the substantial majority organized as Delaware limited liability companies representing individual power-generation, solar, storage and project-development entities, alongside two US regulated utility subsidiaries, AES Indiana and AES Ohio, and international operating subsidiaries in multiple countries where AES generates or distributes power. Given the volume of entities, this overview does not reproduce the full subsidiary list already available in the company’s SEC filings. On March 2, 2026, The AES Corporation announced a definitive merger agreement under which it would be acquired by a consortium comprising Global Infrastructure Partners, EQT Infrastructure VI, the California Public Employees Retirement System (CalPERS) and the Qatar Investment Authority; upon completion, expected in late 2026 or early 2027 subject to stockholder and regulatory approval, this consortium would become AES’s ultimate parent, though the transaction had not closed as of the information date below.
### Verified corporate relationships
| Entity | Country | Registration number | Relationship | Ownership | Status | Information date |
|—|—|—|—|—:|—|—|
| AES Indiana (Indianapolis Power and Light Company) | United States | Not disclosed | Direct subsidiary (regulated utility) | Ownership percentage not disclosed | Active | 2026-03-02 |
| AES Ohio (Dayton Power and Light Company) | United States | Not disclosed | Direct subsidiary (regulated utility) | Ownership percentage not disclosed | Active | 2026-03-02 |
| GIP / EQT Infrastructure VI-led consortium (with CalPERS and Qatar Investment Authority) | United States / multinational | Not disclosed | Possible relationship: proposed acquirer under a signed merger agreement, not yet completed | Not applicable | Pending | 2026-03-02 |
### Recent structural changes
– Definitive merger agreement signed March 2, 2026, for the acquisition of The AES Corporation by the Global Infrastructure Partners / EQT-led consortium; transaction not yet completed as of the information date.
### Data availability
Corporate-linkage information for The AES Corporation is full at the parent level (no current parent, pending a disclosed change of control) and partial for subsidiaries: its SEC Exhibit 21.1 filing lists thousands of subsidiary names and jurisdictions, but ownership percentages for individual subsidiaries are not itemized in that exhibit.
### Sources
– SEC EDGAR, The AES Corporation Form 10-K FY2025, Exhibit 21.1 (List of Subsidiaries), https://www.sec.gov/Archives/edgar/data/874761/000087476126000063/aes1231202510-kexhibit211.htm, retrieved 2026-09-16
– AES Corporation, Consortium Led by Global Infrastructure Partners and EQT Agrees to Acquire AES, https://www.aes.com/energy-insights/consortium-led-global-infrastructure-partners-and-eqt-agrees-acquire-aes, published 2026-03-02, retrieved 2026-09-16
– SEC EDGAR, The AES Corporation merger proxy statement (DEFM14A), https://www.sec.gov/Archives/edgar/data/874761/000114036126021662/ny20067536x2_defm14a.htm, retrieved 2026-09-16
The AES Corporation
United States
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Frequently Asked Questions
What does The AES Corporation do?
The AES Corporation is a Delaware-incorporated global energy holding company headquartered in Arlington, Virginia, that develops, owns and operates power generation and distribution businesses, including conventional and renewable generation, energy storage, and two US regulated utilities, AES Indiana and AES Ohio.
Who owns The AES Corporation?
AES Corporation's largest disclosed institutional shareholders per SEC Schedule 13G filings include Vanguard Capital Management (approximately 7.35%, as of March 31, 2026), FMR LLC / Abigail P. Johnson (approximately 5.7%, as of March 31, 2025), and Capital International Investors (approximately 4.1%, as of December 31, 2024); disclosure covers major holders above SEC reporting thresholds, not the complete shareholder base.
Who is The AES Corporation's UBO (Ultimate Beneficial Owner)?
Every shareholder recorded for The AES Corporation is itself a company rather than a natural person, so no Ultimate Beneficial Owner (UBO) is identified at this level; establishing one would require tracing the ownership of each shareholding company in turn.
Is The AES Corporation still an active company?
The AES Corporation's status on Virginia State Corporation Commission is listed as active.
When was The AES Corporation incorporated?
The AES Corporation was incorporated on 1 January 1981, according to Virginia State Corporation Commission.
What is The AES Corporation's registered address?
The registered address on file for The AES Corporation is Arlington, United States.
What legal structure is The AES Corporation registered as?
The AES Corporation is registered as a Public Limited Company in United States.
What is The AES Corporation's revenue?
AES Corporation reported consolidated revenue of approximately 12.23 billion US dollars for fiscal year 2025, down slightly from approximately 12.28 billion US dollars in fiscal year 2024.
Is The AES Corporation listed on a stock exchange?
AES Corporation is listed on the New York Stock Exchange under the ticker symbol AES (SEC CIK 0000874761).
Who are the officers/directors of The AES Corporation?
Andres Gluski has served as Chief Executive Officer of AES Corporation since 2011; Stephen Coughlin has served as Executive Vice President and Chief Financial Officer since October 2021; Ricardo Manuel Falu was appointed President effective March 2, 2026.
Does The AES Corporation have a parent company or subsidiaries?
AES Corporation currently has no verified parent company and is the ultimate parent of its own group, which per its FY2025 Form 10-K Exhibit 21.1 includes thousands of mostly Delaware-organized project subsidiaries plus regulated utility subsidiaries AES Indiana and AES Ohio; on March 2, 2026 AES agreed to be acquired by a consortium led by Global Infrastructure Partners and EQT Infrastructure VI, a transaction pending as of the information date.
Can Zavia monitor changes to The AES Corporation's ownership over time?
This profile reflects a point-in-time snapshot from Virginia State Corporation Commission. Zavia's monitoring API can track changes to The AES Corporation's registered shareholders, officers, and group structure going forward, flagging updates as they're filed rather than requiring a manual recheck.
Can I access The AES Corporation's data through an API?
Yes. Zavia's API connects directly to official government ownership registries across 195 countries and territories, including United States, so records like The AES Corporation's registration, shareholder, UBO, and group-structure data can be queried programmatically instead of viewed one page at a time.
Where does this company information come from, and how current is it?
This record is sourced directly from Virginia State Corporation Commission and was last synced on 15 September 2026.