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Consortium Led By BlackRock, EQT To Acquire Parent Of Retail Supplier, Choice Utility
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The AES Corporation ("AES" or "the Company"), Global Infrastructure Partners ("GIP"), a part of BlackRock, and the EQT Infrastructure VI fund ("EQT"), along with co-underwriters California Public Employees' Retirement System ("CalPERS") and Qatar Investment Authority ("QIA") (collectively "the Consortium"), today announced that they have entered into a definitive agreement under which the Consortium will acquire AES for $15.00 per share in cash, representing a total equity value of $10.7 billion and an enterprise value of approximately $33.4 billion, including the assumption of existing debt.
AES owns a retail supplier, AES Solutions Management, which is licensed in certain markets. AES also offers wholesale supply and PPAs for corporate and other large customers, in addition to developing renewable generation in various markets, including organized competitive markets
AES said that, "For renewable and corporate customers, AES will continue to innovate for hyperscaler, mining, and other large-load customers, delivering scalable, reliable clean energy solutions to support growing electricity demand and decarbonization goals".
AES also owns Dayton Power & Light
The transaction represents a 40.3% premium to the 30-day volume weighted average share price prior to July 8, 2025, the last full day of trading prior to the first media report of a potential acquisition.
"This transaction will better position AES to drive long-term growth across its business units, including regulated electric utilities and competitive clean energy in the U.S. ...," the companies said
AES said that it is the largest supplier of clean energy to corporations globally, including 11.8 GW of signed agreements to date to supply power to major technology firms.
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March 2, 2026
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Copyright 2026 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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