AES Corporation

CEO Andrés Gluski and the team have executed a multi-year pivot toward renewables and data-center power solutions while exiting coal, and have repeatedly communicated multi-year growth targets with visible project backlogs.

However, a restatement tied to AES Brasil valuation inputs and a subsequent material weakness in internal controls disclosed in 2025 modestly detract from the governance score pending remediation.

Strategic moves like the CDPQ partnerships at the utilities and asset sales indicate disciplined funding of growth without equity issuance, but consistent execution and control remediation will be the key proof points.