Global Infrastructure Partners and EQT Join Forces to Acquire AES for Accelerated Clean Energy Growth

Acquisition Announcement

On March 2, 2026, the AES Corporation, a leading player in the clean energy sector, confirmed its agreement to be acquired by a consortium led by Global Infrastructure Partners (GIP) and EQT. This strategic move is poised to significantly accelerate AES’s growth as a premier clean energy platform throughout the Americas.

Details of the Acquisition

The acquisition price stands at $15.00 per share, which signifies a 40.3% premium over the average share price from the previous 30 days preceding July 8, 2025. This translates to an estimated total equity value of $10.7 billion, with an enterprise value of around $33.4 billion, revealing the commitment from the consortium not only to invest in AES but also to fortify its capital structure for future growth.

The consortium, which includes major investment entities such as the California Public Employees' Retirement System (CalPERS) and the Qatar Investment Authority (QIA), is confident that the transaction will enrich AES's capability to enhance its utility services and sustainable energy solutions. This acquisition will allow AES to continue being a privately operated entity, thereby improving its financial flexibility, critical for achieving its strategic objectives and meeting evolving market demands.

Strategic Implications

Jay Morse, Chairman of the Board for AES, expressed that this transaction reflects a well-considered decision aimed at maximizing shareholder value while ensuring that AES continues upward in its mission to deliver reliable, affordable, and sustainable energy. The need for robust financial backing is particularly prominent as AES intends to tackle upcoming challenges and invest heavily in new energy projects beyond 2027.

President and CEO Andrés Gluski highlighted the acquisition as a significant milestone in AES's 45-year journey towards empowering industries and addressing the clean energy transition. He believes partnering with GIP and EQT will further bolster AES's capabilities in delivering innovative energy solutions to its customers and communities.

Continued Commitment to Service

Despite the acquisition, AES anticipates that its operations in Indiana and Ohio will remain local and will continue to be regulated utilities focused on customer service and maintaining affordability. The deal is set to close in late 2026 or early 2027, after obtaining the necessary approvals from AES shareholders and government authorities.

With the support of the consortium, AES aims to further solidify its position as the largest supplier of clean energy to corporations worldwide. This promising development includes a significant 11.8 gigawatts in signed agreements with prominent technology companies, empowering them with green energy solutions.

Conclusion

In summary, the acquisition led by Global Infrastructure Partners and EQT marks a transformative moment for AES, positioning it to thrive in the increasingly competitive and dynamic energy landscape. As AES transitions to private ownership, the infusion of capital will enable the company to pursue its growth strategies and legislative frameworks confidently, securing a sustainable future for energy supply across the Americas.