AES Corporation at Bank of America Securities Annual Investment Conference - Final.(Broadcast transcript)

UNIDENTIFIED PARTICIPANT: Before I present our next speaker, I just need to make a public appearance statement. As you are aware, we are required to make a number of conflict of interest and related disclosures in connection with our participation in this conference and the companies that we may discuss. If you'd like to review these important disclosures, please pick up the packets containing the public appearance disclosures at the back of this room and at each of the breakout sessions. PDF copies can be accessed by those of you viewing these presentations via webcast.

Our next speaker is Andres Gluski. He is Chief Operating Officer for -- sorry -- Executive Vice President and Chief Operating Officer for AES Corporation. Before his role as a CEO, he was also the head of Latin America. With that, I'm going to pass the podium over to Andres.

ANDRES GLUSKI, EVP AND COO, AES: Thank you very much and good afternoon, everybody. I'd like to, of course, start off with the Safe Harbor disclosure, as you've probably seen, like, two dozen times today.

I'd like to talk a little bit and sort of give you an overview about AES. AES is a unique power company, and it is unique because it operates in 29 countries, so it really has a global scope. It is also, I think, unique in the form that it operates in terms of in the countries where we operate, we operate with local teams in terms of 99% of our executives, for example, in Brazil will be Brazilians, and we are very tied into the local economies and understanding the local situation.

We are also global -- or -- universal in the sense of technologies. We basically do all types of power, excluding nuclear and geothermal, at this point, but we do renewables such as wind, solar, thermal, and, of course, hydro. So when we go into a country we really can design what is the best solution for the energy needs of that country.

We've been operating in the power business for 25 years, and I think have a very extensive record of development and construction. The power sector is an interesting sector to be globally. When we look at the demand, it's growing very quickly across the globe, and what we are looking at for AES is growth in the mid-teens. This is based on our organic growth. We are in markets that are growing 6% to 8%. We will see that we have 3,000 megawatts under construction, and we have a pipeline of 35,000 megawatts, so we are operating in terms of growth of the markets themselves, of doing greenfields and a lot of brownfield expansions.

So here is a picture of AES in terms of where we're located. We have about 1,200 megawatts of wind. Most of this is in the United States; 124 power plants worldwide with a capacity of more than 43,000 megawatts, 43 gigas; and we serve about 11 million customers in terms of our distribution companies.

Our integrated utilities go from Indiana Power and Light to Eletropaolo in the state of Sao Paolo.

If you look by fuel types, approximately 40% of our generation comes from coal, 32% comes from gas, 21% from renewables, and 6% from other thermals, which is basically fuel oil and diesel.

If you look by geography, I think we have a very good distribution. We are 26% Latin America; 34% North America; 26% Europe, the CIS and Africa; and 14% Asia and the Middle East. Now, this is consolidated. This does not take into account, for example, in our operations in North America, we tend to own 100% of the plants, whereas, in emerging markets such as Brazil, we tend to own a portion and, in some cases, the stocks are publicly listed and traded.

If you look at our key metrics in terms of financial metrics, you'll see that we've had good growth of adjusted …