Finance History | 4300 Wilson Boulevard — An Independent Generator on a Ballston Corner
· 1981-1
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Finance History | 4300 Wilson Boulevard — An Independent Generator on a Ballston Corner
kevin
People treat AES as a renewable utility ticker and a Ballston office.
The company began as a consulting shop founded by two former Federal Energy Administration officials.
On 28 January 1981 Roger Sant and Dennis Bakke incorporated Applied Energy Services.
The Public Utility Regulatory Policies Act of 1978 had opened a door for independent generators to sell power to regulated utilities. AES used that door.
Its first plant, Deepwater, a petroleum-coke cogeneration station near Houston, began selling power in June 1986 to Houston Lighting and Power, with residual steam going to an adjacent refinery.
A second plant at Beaver Valley, near Pittsburgh, closed financing in September 1985 and began selling power in 1987.
AES listed on the New York Stock Exchange on 25 June 1991 under the ticker AES.
The legal name became The AES Corporation in April 2000.
Headquarters sit at 4300 Wilson Boulevard, eleventh floor, in the Ballston office cluster. The AES letters read from Wilson Boulevard.
The pin is the public sidewalk on Wilson at Vermont. Do not enter the tower.
The mechanism is an independent power producer that borrowed against long-term offtake contracts instead of holding a regulated monopoly franchise.
Photo: Farragutful, CC BY-SA 3.0, via Wikimedia Commons. Wilson Boulevard in Ballston. The AES tower is the cylindrical office on the right.
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