AES (AES, Financial) leap 14% after that takeover buzz hit Bloomberg. Now, Mr.Market's talking about the utility weighing a sale and top private equity names lining up to take a closer look.
It's been a rough couple of years for AES—shares are down nearly half and off 13% this year before the news. At about $8 billion in market cap and $36 billion enterprise value, that $30 billion debt load looks heavy, even with $2 billion in the bank.
What really grabbed buyers is all those renewable assets. AES runs 18.4 GW of wind, solar, hydro and storage. They added 3.5 GW last year and have 12.3 GW waiting in the wings, with 5.1 GW already under construction. From a 220 MW solar farm in Pennsylvania to a 238 MW wind park in Arizona, the pipeline's stacking up.
If AES can unlock even a slice of that value, shareholders could see a big win. Keep an eye on the board's update later this month to see if they opt for a full sale or carve out pieces to crank up the value.
