AES Q2 results down on tax rate

The AES Corporation, a global independent power producer with a large US wind portfolio, posted lower second quarter earnings due to an increased corporate income tax rate.

Net income was $133m, or 28 cents per share on an adjusted basis, versus $167m, or 35 cents a year earlier.

Revenue was $4.31bn versus $3.94bn.

AES, based in Arlington, Virginia, operates both regulated and unregulated renewable and thermal power generation and distribution businesses in 20 countries. Renewables are 25% of generating capacity, with wind farms in the US, Bulgaria and the UK.

US wind generation capacity exceeded 1.13GW on 30 June, according to the company.