DOHA, State of Qatar – March 2, 2026 – Q Prime Holding, a premier publicly listed investment entity on the Qatar Stock Exchange, has officially announced its strategic investment in The AES Corporation (AES), joining a distinguished global consortium in the definitive agreement to acquire AES for $15.00 per share in cash. The transaction represents a total equity value of $10.7 billion and an enterprise value of approximately $33.4 billion, inclusive of existing debt.
The consortium is led by Global Infrastructure Partners (GIP, a part of BlackRock) and EQT, alongside the California Public Employees' Retirement System (CalPERS). Q Prime Holding is participating as part of the consortium and is serving as a co-underwriter alongside CalPERS.
Positioning a Premier Clean Energy Platform for Long-Term Growth
This strategic acquisition is designed to position AES for sustained, long-term growth as a premier clean-energy platform across the Americas. The consortium's commitment reflects a shared conviction in the structural demand for cleaner, smarter and more reliable energy solutions, and in AES's capacity to deliver them at scale.
AES is among the world's largest suppliers of clean energy to corporate customers, including major technology companies, with 11.8 GW of agreements in place supporting the rapid growth of artificial intelligence and data infrastructure. By bringing the company under long-term institutional ownership, the consortium intends to provide AES with the patient capital and strategic support required to accelerate its clean-energy build-out while preserving the reliability and affordability of the power it delivers to the communities it serves.
Executive Commentary on Advancing the Energy Transition
The announcement underscores Q Prime Holding's commitment to advancing the global energy transition through disciplined, long-term capital deployment. Speaking on the transaction, Alrazah's leadership emphasized the strategic alignment between the firm's investment mandate and AES's role at the centre of the Americas' clean-energy expansion.
“Q Prime Holding is deeply committed to advancing the global energy transition by providing patient, long-term capital to companies that demonstrate proven capabilities and operational excellence. We are exceptionally proud to support AES as it expands its leadership in clean energy across the Americas, ensuring the delivery of reliable and affordable power to the communities it serves.”
Mr. Faisal Hamad T M Al-Thani
Chief Executive Officer, Q Prime Holding
A Strategic Mandate for Essential Infrastructure
Q Prime Holding's participation in this historic transaction reflects the firm's stated mandate to partner with leading global institutions and to deploy long-term capital into essential infrastructure and businesses positioned around major structural trends. The investment brings Q Prime together with globally recognized capital providers around a shared commitment to AES and the continued development of clean-energy infrastructure across the Americas.
The transaction demonstrates Q Prime's capacity to participate alongside major international institutions in transactions of significant scale, while remaining anchored to its Qatari identity and its focus on durable, long-term value creation. By aligning with partners that share its patient-capital philosophy, Q Prime reinforces its role as a credible, internationally connected investor in the infrastructure that underpins economic growth and the energy transition.
Essential infrastructure, sustainable growth and the global energy transition remain central to Q Prime's investment approach. The firm continues to seek opportunities to deploy capital alongside leading institutions into assets and businesses that deliver reliable services, support structural demand, and generate sustainable value over the long term.
About The AES Corporation
The AES Corporation (NYSE: AES) is a Fortune 500 global energy company headquartered in the United States, providing affordable, reliable and increasingly clean energy to customers across the Americas. AES owns and operates a diversified portfolio of generation and utility assets and is among the world's largest suppliers of clean energy to corporate customers, including major technology companies. The company's pipeline of clean-energy agreements supports the rapid growth of artificial intelligence and data infrastructure, positioning AES as a central platform in the Americas' clean-energy transition.