AES Andes makes changes to its corporate governance after becoming a closely-held corporation
April 30, 2024
- The board of directors was reduced from nine to seven members and an advisory committee was created
Santiago - AES Andes held its first shareholders' meetings as a closely-held corporation today. On the occasion, an Extraordinary Shareholders' Meeting (EGM) was held, followed by an Ordinary Shareholders' Meeting (JOA).
During the EAG, in terms of corporate governance, the company agreed to reduce the number of directors from nine to seven and to reduce the number of board meetings from monthly to quarterly.
Thus, the board of directors of AES is composed of Juan Ignacio Rubiolo, who is currently chairman of the board, and Arminio Borjas, Bernerd Da Santos, Ricardo Falú, Giselle Leger, Madelka McCalla, and Francisco Morandi.
Arminio Borjas, who served as acting Chairman of the Board, thanked the outgoing directors - Radovan Razmilic, Gonzalo Parot and Daniel Fernández - for their great contribution, dedication and professionalism throughout their time as directors of the company, especially for their support in carrying out the company's major transformation to become a leader in renewable solutions to help its customers achieve their carbon neutrality goals. Undoubtedly, during these years “we are all working together to accelerate the future of energy”.
In the subsequent Ordinary Shareholders' Meeting, the Annual Report, the Balance Sheet, the Financial Statements and the dividend policy for the year 2024 were approved.
The shareholders' meeting said it was pleased with the performance of AES Andes on the road to becoming an emission-free company.
“Each new project we put into operation is a testament to our commitment to the energy future. And we do not stop there, we continue building and developing new initiatives that bring us closer and closer to our goal of being 100% renewable", highlighted Javier Dib, the company's General Manager.
He added that a proof of this is that “after the retirement of Norgener and the entry into operation of 601 MW emission-free in our matrix last year alone, today, more than 50% of the company's portfolio is based on renewable energies and storage systems that are under construction will allow us to get even closer to achieving the goal defined in our strategy”.
About AES ANDES
AES Andes generates and sells power in Chile, Colombia and Argentina. The company operates 5,345 MW in South America along with a broad portfolio of renewable energy projects under construction and development. The company is one of the region's leading generation firms, with a diversified portfolio that includes hydroelectric, wind, solar, energy storage, natural gas and coal plants.
In Chile, AES Andes and its subsidiaries own and operate 3,573 MW, comprising 1,645 MW of thermoelectric, 771 MW of hydroelectric, 400 MW of wind, 486 MW of solar photovoltaic, and 271 MW of battery energy storage systems, as well as seawater desalination plants and transmission lines.