Is AES Corporation Stock a Buy?

Utility AES Corporation (NYSE: AES) is leaning hard into the low-carbon zeitgeist driven by the world's push to mitigate climate change. This is going to drive increased spending for years to come as the company works to take advantage of what it calls "a once-in-a-lifetime transformation" of the energy sector. Should investors go along for the ride here, or would it be better to wait and see how this big shift plays out? 

AES expects the amount of renewable power in the world to expand five times over by 2050. That means a huge amount of spending is going to be taking place over the next 30 years or so, which is a massive opportunity for utilities. AES itself is looking to hit net-zero emissions by 2040, which will require a material amount of renewable investment. That's the backdrop for the company's roughly $4.8 billion in planned spending through 2025, 65% of which is earmarked for renewables. 

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Source Fool.com