AES · 10-Q · 2026Q2 · Full report
Capital Expenditure Program
AES CORP · 2026-08-04 · Importance 70 · Surprise 56 · In source text
Capital expenditures increased by $823 million year over year to $3.409 billion for the six months ended June 30, 2026, including $227 million of capitalized development and construction interest. Growth expenditures rose $799 million, primarily reflecting higher U.S. and Chile renewable-project spending and increased transmission and distribution investments at U.S. utilities. Maintenance expenditures increased $24 million, mainly because of the timing of maintenance at AES Ohio. The company’s stated investment profile indicates continued emphasis on renewable generation, utility load growth, and system modernization.
Key facts
- Capital expenditures (cash uses) were $(3,409) million for the six months ended June 30, 2026 and $(2,586) million for the six months ended June 30, 2025, which includes interest capitalized of $227 million and $242 million for the six months ended June 30, 2026 and 2025, respectively. source
- Capital expenditures growth expenditures increased $799 million, primarily due to an increase in expenditures for U.S. and Chile renewables projects and an increase in transmission and distribution project investments at U.S. utilities. source
- Of the total capitalized interest, $217 million and $232 million for the six months ended June 30, 2026 and 2025, respectively, are related to recourse and non-recourse debt interest payments. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | -1.5% | Capital expenditures (cash uses) were $(3,409) million for the six months ended June 30, 2026 and $(2,586) million for the six months… |
| cash | negative | realized | -1.5% | Capital expenditures growth expenditures increased $799 million, primarily due to an increase in expenditures for U.S. and Chile… |
| assets | positive | realized | +1.5% | Capital expenditures growth expenditures increased $799 million, primarily due to an increase in expenditures for U.S. and Chile… |