Catenaa, Monday, March 02, 2026- A consortium of investors, including BlackRock’s Global Infrastructure Partners and investment group EQT, agreed to acquire AES for $10.7 billion with surging demand for power generation for data centers.
Utility and power-generation companies like AES are gaining increasing attention as AI’s vast energy needs place heavy burdens on power grids.
“There is a need for significant investments in new capacity in electricity generation, transmission, and distribution,” said Bayo Ogunlesi, chief executive of BlackRock’s Global Infrastructure Partners.
AES said the sale will provide it with the necessary capital that it previously lacked to expand its US energy generation.
“AES has a significant need for capital to support growth beyond 2027, particularly given the significant new investments in both U.S. generation and utilities businesses,” said AES Chairman Jay Morse. “In the absence of a transaction with the consortium, the company would likely require a plan that includes reduction or elimination of the dividend and/or substantial new equity issuances.”
The consortium also includes the California Public Employees’ Retirement System and the Qatar Investment Authority.
The investors will pay $15 a share, representing a 40% premium to the 30-day volume-weighted average share price before July 8 last year, the last full day of trading before the first media report of a potential acquisition.
The AES stock sank over 17% to $14.27 on Monday. The stock is down by 0.4% so far this year.
The transaction is expected to close in late 2026 or early 2027.
