The Edison Award represents the electric power industry’s most
prestigious honor and recognizes companies for their leadership,
innovation and progress

ARLINGTON, Va.–(BUSINESS WIRE)–The
AES Corporation (NYSE: AES) announced it has been selected for the
Edison Electric Institute’s (EEI) 2019 Edison Award, the electric power
industry’s most prestigious honor. A panel of former energy company
chief executives selected AES for the 91^st annual award for
introducing the world’s largest solar and storage system in operation on
the Hawaiian island of Kaua’i.

In December 2018, AES and Kaua’i Island Utility Cooperative (KIUC)
completed the Lāwa’i solar and energy storage project, creating a new
model for stabilizing large-scale renewable energy. Owned and operated
by AES Distributed Energy, the project was designed with KIUC and
consists of 28 MW of solar photovoltaic (PV) and a 100 MWh five-hour
duration energy storage system. The PV peaker will also deliver roughly
11 percent of Kaua’i’s power, making the island more than 50 percent
powered by renewables and helping Hawaii meet its goal of reaching 100
percent renewable energy by 2045.

“The Lāwa’i project that we designed together with KIUC will help Kaua’i
realize its vision of a green energy future by reducing its reliance on
fossil fuels and generating clean, reliable and affordable energy,” said Andrés
Gluski, AES President and Chief Executive Officer. “We are honored
to receive the prestigious 2019 Edison Award from EEI for an innovation
that will serve as a model for future large-scale renewable energy
projects by proving that solar + storage can provide around the clock
load following renewable power.”

By combining solar power with battery-based energy storage, intermittent
renewable generation can be converted into safe, reliable and
high-quality power. The fully integrated Lāwa’i project will eliminate
the use of 3.7 million gallons of diesel annually, while supporting
three vital scenarios in power distribution – it allows for solar
generation to supply the grid while charging the battery system,
dispatches power stored in the battery system to the grid during peak
demand periods and can dispatch solar and battery power simultaneously
to answer spikes in demand.

“Declining costs of solar, coupled with model projects such as this one,
are making renewable energy solutions a reality in the United States and
across the world,” said EEI President Tom Kuhn. “Despite the challenges
Kaua’i faced, the PV peaker plant designed by AES with KIUC helped
establish the island as a leader in the clean energy transition and as a
case study for the successful integration of renewables.”

The Edison Award honors distinguished leadership, innovation and
contribution to the advancement of the electric industry for the benefit
of all. These accomplishments may include (but need not be limited to)
any or all the following areas: engineering, construction, operations,
communications, customer service, environment, finances, and strategy.
This is AES’ first US Edison Award and sixth Edison Award overall, and
is a testament to the work AES people are doing to collaborate with
customers, and create innovative and sustainable energy solutions.

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global power company.
We provide affordable, sustainable energy to 15 countries through our
diverse portfolio of distribution businesses as well as thermal and
renewable generation facilities. Our workforce is committed to
operational excellence and meeting the world’s changing power needs. Our
2018 revenues were $11 billion, and we own and manage $33 billion in
total assets. To learn more, please visit www.aes.com.
Follow AES on Twitter @TheAESCorp.

AES Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning
of the Securities Act of 1933 and of the Securities Exchange Act of
1934. Such forward-looking statements include, but are not limited to,
those related to future earnings, growth and financial and operating
performance. Forward-looking statements are not intended to be a
guarantee of future results, but instead constitute AES’ current
expectations based on reasonable assumptions. Forecasted financial
information is based on certain material assumptions. These assumptions
include, but are not limited to, our accurate projections of future
interest rates, commodity price and foreign currency pricing, continued
normal levels of operating performance and electricity volume at our
distribution companies and operational performance at our generation
businesses consistent with historical levels, as well as the execution
of PPAs, conversion of our backlog and growth investments at normalized
investment levels and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our
forward-looking statements due to risks, uncertainties and other
factors. Important factors that could affect actual results are
discussed in AES’ filings with the Securities and Exchange Commission
(the “SEC”), including, but not limited to, the risks discussed under
Item 1A: “Risk Factors” and Item 7: Management’s Discussion & Analysis
in AES’ 2018 Annual Report on Form 10-K and in subsequent reports filed
with the SEC. Readers are encouraged to read AES’ filings to learn more
about the risk factors associated with AES’ business. AES undertakes no
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.

Any Stockholder who desires a copy of the Company’s 2018 Annual Report
on Form 10-K filed February 27, 2019 with the SEC may obtain a copy
(excluding Exhibits) without charge by addressing a request to the
Office of the Corporate Secretary, The AES Corporation, 4300 Wilson
Boulevard, Arlington, Virginia 22203. Exhibits also may be requested,
but a charge equal to the reproduction cost thereof will be made. A copy
of the Form 10-K may be obtained by visiting the Company’s website at www.aes.com.

Contacts

Investor Contact: Ahmed Pasha 703-682-6451
Media Contact: Amy
Ackerman 703-682-6399