GIP and EQT agree $33.4 billion AES takeover

GIP and EQT's $33.4 billion take-private of AES immediately secures over 30 GW of operational and pipeline renewable and storage capacity, directly accelerating their energy transition strategies. This acquisition provides GIP, a leading infrastructure investor focused on energy assets, and EQT, a global investment organization, with immediate scale in sustainable energy solutions. The transaction, announced on March 9, 2026, converts AES from a public entity to a privately held company, integrating its diverse portfolio of thermal and renewable generation facilities and distribution businesses into the buyers' investment frameworks. This $33.4 billion deal directly targets a global power company with established renewable infrastructure. For GIP, this $33.4 billion acquisition aligns with its specialization in investing in, owning, and operating large, complex energy assets, instantly expanding its footprint in the energy transition sector. EQT, an investment organization committed to creating value by finding good companies, gains a globally present power company with a substantial 30 GW renewable and storage pipeline. The AES Corporation, a global power company providing sustainable energy solutions through a diverse portfolio of thermal and renewable generation facilities and distribution businesses, transitions to private ownership, allowing its existing assets to be managed under the new investor structure. This $33.4 billion transaction, announced on March 9, 2026, demonstrates sustained investor appetite for established renewable and storage platforms within the global energy market.