Global Infrastructure Management and EQT led consortium - AES Corporation

Investment funds advised, managed or owned by Global Infrastructure Management (**GIM**), EQT AB (**EQT**) and the Qatar Investment Authority (**QIA**) propose to acquire The AES Corporation (**AES Corporation**) (the **Acquisition**). Following the Acquisition, AES Corporation will be jointly controlled by GIM and EQT. GIM is owned by BlackRock, Inc. GIM, EQT and QIA’s interests in Australia include: * Akaysha (interest owned by a connected entity of GIM): a renewable energy developer specialising in large-scale battery energy storage systems. * Nebras Power (interest owned by QIA): owns interests in large-scale renewable energy generation assets, including in Australia. * OX2 (interest owned by EQT): a developer of large-scale wind, solar and energy storage projects. * Recurrent (interest owned by a connected entity of GIM): a global developer, owner and operator of large-scale solar and energy storage projects. * Vena Energy (interest owned by GIM): a renewable energy power producer with solar, wind and battery storage assets in the Asia-Pacific region. AES Corporation is a publicly listed company, headquartered in Arlington, Virginia, United States. AES Corporation, through its subsidiaries, owns and operates a global portfolio of power plants and utility systems that generate, transmit, distribute and sell electricity to wholesale and retail customers across residential, commercial, industrial and governmental sectors. Its generation mix spans coal, natural gas, hydro, wind, solar and energy storage systems. AES Corporation operates in Australia through its interests in 5B Holdings Pty Ltd (**5B**) which primarily manufactures prefabricated solar infrastructure and Fluence Energy Pty Ltd (**Fluence**) which supplies energy storage products, software and related services.

Status

Under assessment

Stage

Phase 1 - initial assessment

Notified

30 July 2026

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