AES and Google Create Strategic Alliance to Accelerate the Future of Energy
ARLINGTON, Va.--(BUSINESS WIRE)--Nov 6, 2019--
The AES Corporation (NYSE: AES) today announced that it is entering into a 10-year strategic alliance with Google to accelerate the growth and adoption of clean energy by leveraging Google Cloud technology to pioneer innovation in the sector. This alliance builds on the recent agreement between Google and AES to provide long-term renewable power to Google’s data center in Chile.
The two companies will work together to improve the experience for corporate energy customers and to develop and implement solutions that enable broad adoption of clean energy. AES will collaborate with Google Cloud on energy management and opportunities to sponsor clean energy projects in targeted markets in the United States and Latin America that have the potential to help Google meet its clean energy objectives.
As part of this alliance, AES will use Google Cloud technology to help create the grid of the future and improve the experience for energy customers. AES innovation partner, Uplight, will also utilize Google Cloud technology to enhance its end-to-end energy action system, to increase customer satisfaction and reduce carbon emissions. Google Cloud’s leading platform, tools and cutting-edge technology will help redefine and improve AES and Uplight’s delivery of customer solutions through advanced cloud computing, data analytics, machine learning (ML) and artificial intelligence (AI).
“AES has been working with its customers to accelerate the transformation of the electric sector through energy storage, renewables and energy efficiency. Today, we are one of the largest renewables solutions providers and developers in the world,” said Andrés Gluski, AES President and CEO. “We’re proud to have been selected by Google to form this strategic alliance. By combining the capabilities, footprint and experience of both companies, we will be able to provide better and more efficient energy solutions.”
“Cloud technology is an enabler for forward-leaning organizations seeking to put customers at the center of their business strategies,” said Thomas Kurian, CEO of Google Cloud. “Together, AES and Google Cloud will leverage the cloud, AI/ML and data analytics to help transform the energy industry’s infrastructure, while driving wider adoption of renewable energy around the world.”
The AES Corporation (NYSE: AES) is a Fortune 500 global power company. We provide affordable, sustainable energy to 14 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce is committed to operational excellence and meeting the world’s changing power needs. Our 2018 revenues were $11 billion, and we own and manage $33 billion in total assets. To learn more, please visit www.aes.com. Follow AES on Twitter @TheAESCorp.
AES 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 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’ 2018 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.
Any Stockholder who desires a copy of the Company’s 2018 Annual Report on Form 10-K filed February 27, 2019 with the SEC may obtain a copy (excluding Exhibits) 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 Form 10-K may be obtained by visiting the Company’s website at www.aes.com.
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KEYWORD: VIRGINIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: COAL ENERGY NUCLEAR OTHER ENERGY UTILITIES
SOURCE: The AES Corporation
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PUB: 11/06/2019 05:45 AM/DISC: 11/06/2019 05:45 AM