AES Corp Eyes Asian Partners for Latin American Green Hydrogen Projects
Key Ideas
  • AES Corp considering Asian partnerships for green hydrogen projects in Latin America.
  • Feasibility studies completed for a US$1.5bn export-focused project in northern Chile.
  • AES Corp secures power purchase agreements for significant installed capacity in 2024.
  • Company expects higher rainfall in Colombia to boost group-wide Ebitda in 2025.
During a quarterly earnings call, AES Corp executives discussed plans to seek Asian partners for early stage Latin American green hydrogen developments. The company has finished feasibility studies for a US$1.5 billion export-focused project in northern Chile, with a final investment decision expected next year. CEO Andrés Gluski highlighted the potential for Asian buyers to join as partners in these projects. AES Corp has secured power purchase agreements for a substantial 3,538MW of installed capacity in the first three quarters of 2024, including contracts for solar parks in Colombia and Chile. Additionally, the company anticipates a positive impact on Ebitda in 2025 due to increased rainfall in Colombia, benefiting operations like the 1GW Chivor hydroelectric plant. The CFO mentioned that the financials were affected by a drought and planned maintenance work, but improvements are already underway, with expectations of La Niña further aiding the situation going into the next year.
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