HIGHBuilt-inCommodity
54%
renewables generation capacity
“10-K Item 1: '54% of the capacity of our generation plants is fueled by renewables, including solar, hydro, wind, energy storage, and landfill gas'”
AES · Concentration risk · 10-K extracted
The AES (AES) concentration risks
Updated
The most significant concentration The AES discloses is renewables generation capacity at 54%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: The AES’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH1
MEDIUM1
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inCommodity
29%
natural gas generation capacity
“10-K Item 1: '29% of the capacity of our generation plants is fueled by natural gas'”
LOWBuilt-inCommodity
15%
coal generation capacity
“10-K Item 1: '15% of the capacity of our generation fleet is coal-fired'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24AES Corporation's disclosed concentration profile is entirely fuel-mix in nature, spanning three generation technologies at different share bands. Renewables — including solar, hydro, wind, energy storage, and landfill gas — account for 54% of the capacity of the company's generation plants, a large share by disclosed size and a structural feature reflecting deliberate portfolio repositioning toward clean energy. This is not a counterparty or customer dependency; it is a technology and resource mix choice, with the primary risk channels being weather variability, intermittency, and the capital intensity of continued buildout. Natural gas accounts for 29% of generation capacity, a moderate share that introduces exposure to gas commodity prices and pipeline availability. This structural exposure operates on a different risk timeline from the renewables portfolio — gas prices are more volatile on a short-term basis, but the fleet is not tied to a single counterparty or supply contract. Coal-fired capacity represents 15% of the generation fleet, the smallest of the three disclosed exposures. Its structural character reflects an asset base inherited from legacy operations that is in the process of being run down; the relevant risk channels are regulatory tightening on carbon, retirement economics, and potential asset impairment rather than active growth. The three exposures are complementary rather than compounding: the fleet is diversified across fuel types, with no single source dominating to an idiosyncratic degree. The shift toward a renewables-dominant portfolio is visible in the largest share. The coal tail is the variable most worth monitoring for regulatory and impairment risk over the medium term.
For the engine’s reasoning on AES’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Utilities - Diversified
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AES● | The AES Corporation | 1 | 1 | 1 | 3 |
| AVA | Avista Corporation | 1 | 1 | 0 | 2 |
| SRE | DBA Sempra | 1 | 1 | 0 | 2 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.