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ARLINGTON, Va., Feb. 24, 2022 /PRNewswire/ — Strategic Accomplishments Signed 5 GW of new renewables PPAs in 2021, surpassing original target of 3 to 4 GW; backlog of new projects is now 9.2 GW Grew pipeline of development projects to 59 GW Increased ownership of AES Andes to 99% from 67% in an accretive transaction, simplifying AES Andes’ shareholder base to enable more efficient growth in renewables Fluence completed its IPO and began trading in November 2021 2021 Financial Highlights Diluted EPS of ($0.62), compared to $0.06 in 2020, primarily driven by a loss on the deconsolidation of the Alto Maipo hydroelectric project in Chile Adjusted EPS1 of $1.52, compared to $1.44 in 2020 and 2021 guidance of $1.50 to $1.58 Financial Position and Outlook Announcing intent to exit coal by year-end 2025 versus prior expectation of a reduction to below 10% by year-end 2025, subject to necessary approvals Initiating 2022 guidance for Adjusted EPS1 of $1.55 to $1.65 Reaffirming 7% to 9% annualized growth target through 2025, off a base year of 2020 Targeting signing 4.5 to 5.5 GW of new renewables under long-term PPAs in 2022 The AES Corporation (NYSE: AES) today reported financial results for the year ended December 31, 2021.
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