AES has been at the forefront of battery storage since commissioning the world’s first utility-scale lithium-ion system in 2009. Over the past 15 years, the company has expanded its deployment to more than 1,200 MWh of grid-connected storage across North America, Latin America, Europe and Asia Pacific. In 2023 alone, AES brought 350 MWh of new capacity online, representing a 30% year-over-year increase and solidifying its reputation as an industry innovator.

Building on its storage leadership, AES recently announced completion of three large-scale solar plus battery facilities totaling 250 MW of solar photovoltaic capacity paired with 1,000 MWh of energy storage. In Texas, AES commissioned a 100 MW solar array co-located with a 400 MWh battery system, enabling grid operators to deploy stored energy during peak demand windows. In Chile and India, AES has commenced construction on 150 MW of combined solar and storage, expected to enter service by Q4 2025 and deliver 600 MWh of dispatchable power.

AES’s expanding battery portfolio is driving grid resilience and unlocking new revenue streams. Storage segment revenues rose 25% in 2023, contributing 10% of AES’s total adjusted EBITDA, up from 7% in 2022. Management forecasts continued double-digit growth, targeting 20% compound annual growth in storage bookings through 2027. For investors, AES’s leadership in long-duration storage positions the company to capitalize on rising capacity markets and ancillary service contracts, with analysts projecting storage earnings could represent over 15% of total profits by 2030.