What is the company's history?

AES Corporation was founded in 1981 by Dennis Bakke and a group of partners in Arlington, Virginia. The journey began with the aim of developing energy projects that utilized innovative financing and management techniques. The company quickly established itself as a leading player in the power industry, focusing initially on developing independent power plants and securing contracts for long-term energy supply. In the late 1980s and early 1990s, AES expanded its footprint globally, venturing into international markets that were in need of private investment in energy infrastructure. This expansion marked a pivotal shift in the company’s strategy, and it became known for its development of power generation facilities in regions such as Latin America, Europe, and Asia. The company embraced a model of privatization and liberalization of the energy sector, which helped it to grow its portfolio of assets significantly. Throughout the 2000s, AES diversified its operations further, entering the renewable energy sector. The company made substantial investments in wind and solar projects, recognizing the global shift towards cleaner energy sources. This commitment to sustainability has shaped its corporate philosophy and continues to inform its business strategy today. AES Corporation also faced challenges, including financial difficulties during the early 2000s, which compelled it to restructure its operations and focus on its core capabilities. Since then, it has maintained a robust growth trajectory and has prioritized environmental responsibility, aiming to lead the transition to a more sustainable energy future. As of now, AES is renowned not only for its comprehensive portfolio but also for its initiatives in energy storage and digital innovation, positioning itself at the forefront of the evolving energy landscape. For further insights, it may be useful to visit the official AES website for detailed historical information and recent developments.