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The AES Corporation (NYSE:AES) AES Energy Storage has recently entered into two agreements with San Diego Gas & Electric Company (OTCMKTS:SDOGP) (SDG&E).

Collaboration

According to the terms of the agreements, AES Energy Storage is to deploy and commission two energy storage arrays at San Diego sites using the Advancion energy storage solutions. The energy storage arrays are expected to provide greater renewable energy in the region. Specifically, they will render a total of 37.50 megaWatts of power for four hours. Operations are likely to begin by early next year.

Andrés Gluski, The AES CEO and President, has expressed that the company is delighted to be working with SDG&E on this project that seeks to enhance the reliability of electric grids in San Diego using Advancion 4. He noted that SDG&E choosing AES Energy Storage underscores the subsidiary’s high-quality, cost-efficient energy storage solutions.

Geared toward providing clean energy solutions, SDG&E, as James Avery, SDG&E Chief Development Officer, boasted, can further improve its services with the help of Advancion 4.

Q2 Financial Highlights

The AES has published its earnings report for the second quarter earlier this month. The company had a total of $723 million in net cash from operating activities, which is up by more than half-a-billion-dollar year-over-year.

For the period, diluted earnings per share (EPS) came in at $(0.16), which is down from an EPS of $0.11 reported during the same quarter in 2015. Meanwhile, adjusted EPS also declined year-over-year to $0.17 from $0.26.

Year-to-date, the company has a total of $1.36 billion in net cash from operating activities, which is more than twice its year-to-date net cash from operating activities of $590 million reported last year. However, its year-to-date diluted EPS is down year-over-year to $0.05 from $0.33. Similarly, the company’s year-to-date adjusted EPS is down year-over-year to $0.32 from $0.52.

FY2016 Financial Guidance

For the fiscal year (FY) 2016, The AES has reiterated a guidance of about $2 billion to $2.90 billion in net cash from operating activities. The company also expects an adjusted EPS of about $0.95 to $1.05 for the full-year.

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Steve Kanaval
Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg, Equities.com, Hacked.com, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.