Gustavo “Guga” Garavaglia named as CFO of US Utilities, including AES Indiana

February 6, 2024

The AES Corporation (NYSE: AES) has named Gustavo “Guga” Garavaglia, CFO of US Utilities, including AES Indiana and AES Ohio.

Garavaglia is an impactful and trusted leader who previously spent 12 years with AES, delivering strong financial performance and strengthening the finance team and culture. He was instrumental in helping to negotiate and sign key renewables transactions in Indiana. The company sustainability commitments include adding up to 1,300 megawatts (MW) of wind, solar and battery energy storage from new procurements in the next five years.

“We are thrilled to welcome back Guga to the AES family as he is a proven leader focused on improving outcomes for our people, our customers, and our community,” said Ken Zagzebski, President, AES Utilities. Guga strengthens our leadership team during a time when we are making major investments, improving reliability for our customers and converting to a more sustainable generation fleet.” 

Garavaglia worked in various markets during his AES career including Panama and Brazil, while also helping to support the Dominican Republic, Mexico, El Salvador and Puerto Rico. In 2020, he was named CFO of the Year by the Indianapolis Business Journal.

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we’re improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today. For more information, visit www.aes.com.

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This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES’ current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our expectations regarding accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as the execution of PPAs, conversion of our backlog and growth investments at normalized investment levels, rates of return consistent with prior experience and the COVID-19 pandemic.

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