AES Stock Jumps on Report That Renewable Energy Firm Is Exploring Sale

• Shares in AES Corp. are jumping in premarket trading Wednesday as the renewable energy firm reportedly explores a sale, among other options, as it faces takeover interest.

• BlackRock’s Global Infrastructure Partners unit and Brookfield Asset Management have been studying AES after its stock has tumbled in the last two years, Bloomberg reported.

• The power sector has seen heavy interest from acquirers this year as investors bet that the need for power to fuel AI and cryptocurrency mining will boost demand.

Shares in AES Corp. (AES) are jumping 16% in premarket trading Wednesday as the renewable energy firm reportedly explores a sale, among other options.

According to Bloomberg, citing people with knowledge of the matter, the company “is exploring options including a potential sale amid takeover interest.” Infrastructure investors including BlackRock’s (BLK) Global Infrastructure Partners unit and Brookfield Asset Management “have been studying AES after the company’s shares lost about half their value over the past two years,” the report said.

AES has signed deals with several tech firms, including Microsoft (MSFT), Alphabet (GOOGL), and Amazon (AMZN), to provide renewable power for data centers.

The power sector has seen heavy interest from acquirers this year as investors bet that the need for power to fuel AI and cryptocurrency mining will boost demand. This year, the infrastructure unit of Blackstone (BX) agreed to buy TXNM Energy (TXNM), the power provider for New Mexico and Texas, for $11.5 billion in cash and debt while Constellation Energy (CEG) struck a deal to buy private energy company Calpine in a deal valued at $26.6 billion.

AES declined to comment. Brookfield and Global Infrastructure Partners didn’t immediately return requests for comment. AES shares entered Tuesday down almost 14% this year.

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