Good of for and you and year full financial joining review quarter cover fourth our Today, discuss thank strategy year XXXX our focus our and I this areas will year. full call. results morning, everyone, for and
discussing our go Before not people impact thoughts Ukraine. prayers and significant our want the I to we outbreak any see we return plans, on state Nonetheless, future that peace. and speedy from hostility to government, to in do the and of for the XXXX Ukrainian and hope out portfolio our results a
to year-end portfolio. for confidence us by Now growing our focus coal in the with AES backlog announcement result And take milestone This an marks this fully of our gives of is exciting exit a our turning intention success and back to Today accelerated our renewables step. the important our our to goal business. XXXX.
we the Agreement the a economy. in Paris goals to in the committed leader are a global achieving net-zero energy transition, As of
to We with our obligations. our regulatory while stakeholders meeting ensure a will transition smooth work
flow coal in are will through but we from cash dilutive, to earnings target our be And X% we annualized reaffirming comfortable accordingly, with of growth X% and our modestly trajectory. XXXX. Our growth feel exit
Now XXXX and results moving our accomplishments. on to
$X.XX, pleased in including our with expectations. I of our financial was which to share per First, line results, am report adjusted earnings
Our exceeded $XXX million. $XXX million XXXX expected $XXX parent free cash range flow million of of to our
Second, of last of new above gigawatts gigawatts to target that significantly year. our X we set X for signed renewable we contracts X projects,
and to according deals AES corporate days arrangements anyone customers deals fact, groundbreaking Bloomberg in a renewable New In more were Included else Google basis, with renewable two day, these Finance, energy XXXX signed the Energy XX X in world. week Microsoft. to a with hours an in hour-by-hour on provide than signed
in towards which faced, funding chain objectives. foreseeable Third, has the and successfully their I shortly. completed Fluence made strategic discuss shall for no mitigating IPO November need have external challenges they supply financial their Fluence to progress achieve Furthermore, and have
with that XXXX today; to executing Beginning I incidents among our Finally, the two report safety value. proud today investing was very history, I most roughly is in safety people, Slide best future. things: am and AES performance X. in be discussing Today, and no will construction our major recorded on contractors second, workers. XX,XXX XX-year first, the executing for important our with
future, transitioning Even carbon-free to are as we commitments. on we our laser-focused on a delivering are
to deliver model predictable results. to and us business resilient proven be has Our enables itself
various generation remaining from largely XX% For is the and adjusted we're between Similarly, insulated American example, long-term is such with split headwinds, inflation rising interest as rates. dollars, PTC from Latin in XX% of contracted macroeconomic and and our U.S. currencies. utilities and XX% euros
fixed XX% businesses indexation exposure from of the rates. As our rate of us interest revenue of same Slide have protecting or is shown from impact hedged interest impact At that rising to clauses are the the XX% hedged, almost on from limit is inflation. X, or our time,
of shares we strength cash of completed January, the underlying earnings dollars is transaction our to publicly-traded low-carbon flow to our the generation. from in XX% in In today. and contracted, and U.S. the is ownership turning Slide which immediately by was bringing Next, This conviction This tender transitioning to acquire motivated AES business, X. Andes, a XX% accretive. highly to predominantly
now Moving majority to we the with including at base a AES Slide backlog customers in Indiana the rate to gigawatts gigawatts X. C&I utility. About is of the with We of signed have the X X the gigawatts, X.X XXXX. grow X/X and U.S., vast our in signed
our the arrangements of demonstrates our X.X to In chain backlog. supply we of overrun. with of relationships secured the supply our This or We our and cost XXXX, gigawatts successfully have material robust without delays current nature added strength our for portfolio execution bulk any the suppliers.
new secured we flexibility of supply their energy our of to suppliers by facilities for storage Fluence. the battery able battery to inherent example, some shows alleviate Samsung X challenges switch of chain Being many the different faced product. to For Gen
XXXX, in on complete in As which chain our under construction not any towards projects is budget. delays projects new in X.X do of time our we U.S., We two-third we significant or look supply on our to the ability disruptions. coming expect confident of online remain gigawatts and
investing Moving X. future on Slide to theme, for the our second
new signed XX% Our of X of actions One an to be that last today XXXX. advantage that ensure from example of year, the gigawatts increase sector. transformation able the clear we unprecedented we of PPAs full take will our is
sign year full contracts. to we gigawatts new long-term of under expect to 'XX, X.X For X.X renewables
We are seeing demand strong renewables. for
of contracts. have this than XXX new signed so And we year, more already far megawatts
able our growing for have offering. for been of XX/X sector, why delays headwinds we We double supply very chain XX to renewable demand strong and such expect in issues, for XXXX. operating to we're our meet is low-carbon by that legislation of ensure gigawatts projects approximately AES to assets we our tailored pipeline for see renewable from That any such XX gigawatts in especially energy, customers' products, demand our as more investing services. to portfolio as growing our than future Despite current
which XX can renewable As a is U.S. now among see we we largest have the second X, Slide you developers. pipeline on believe development gigawatts, of
with pipeline includes projects build the the that in almost position our gigawatts are deliver the need our provides on to competitive Our to U.S. bid. and pipeline we U.S. continue XX to backlog us This ready to in on robust
As earnings from we're of our accelerating of two our businesses a XXXX result, coming XX% U.S. by to proportion XXXX. the goal increasing from to years
also affordable future base by growing and safe, We for to utilities are delivering U.S. investing our our the the by annually, reliable at while X% services customers. rate
nearly XX, renewable is Slide on generation. see coal megawatts of approved to can the which with you retire units, Indiana executing on replace plan AES we XXX new will two As
is could fuel conversions X our for At retirement plan or already we're the and have on transmission in gigawatt the in the executing include additional rate and of years. the coal We Ohio started remaining resource grid a next recently AES for XXXX. which in generation. have our case approved been midst the state hearing. completed the integrated rates Ohio, investment distribution distribution smart also of past process, base lowest AES AES programs Ohio's five
would end as than AES even increase, lowest. Ohio's in of fact, rate the and the lower of next XXXX, In XX% were with rates the requested the utility the remain lowest state
Turning to Slide XX.
AES the incubating Next. new for investing and future through and developing by platforms businesses' products we're is way Another
value and Our competitive drive investment innovative core help shareholders. in and be AES Next our more customers for and our businesses
with in In today XX. Fluence, raised is Turning billion XXXX, as storage and technology to their platform. supply company. to IPO completed Slide AES the most developing leading under in as their $X invest Fluence The Next digital mature their energy capital chain products initiative well
signed storage a deployed of backlog As of gigawatts and billion. contracted of and energy December XX, products Fluence had X.X $X.X
than Fluence's is has XX% digital Fluence more with X now which customers. third-party Additionally, platform, contracted, of IQ, gigawatts
past to including deliver shown and well in much prefabricated energy One example land. chain supply dealing and projects as which battery and that Overall, them solution to issues. their on building to address their XB, long-term Slide on the hurricane these the as is This built in-house that taken Dominican challenges, and allows investment be wind-resistant see MAVERICK, in market also remains solar storage with Fluence incubate they diversifying several time which suppliers, from to grow being AES innovative that We X/X remain the and Their stemming signing for is supply actions rolled Republic, help Panama and working product accelerate Over chain Next leader. their is value significant on plan, the a currently shareholders. demand Australia, execute technologies team called will team. X/X agreements deployment opportunity continue our the Chile, a challenges is management confident of U.S. XX. as India, in other renewables, has to is develop positioned to robust, will has proactive has for and Fluence months, shipping been and short-term out COVID-XX-related of out
have fully Turning targets of Initiative. Paris are of have to sector in We our Slide Pathway XX. a to our emissions subject We're small Transition aligned XXXX, net-zero with number earlier, a according Agreement receiving as coal approvals. to XXXX. one with to already the from company to the electricity And that announce I end intent of by excited by mentioned completely to we're the goal exit necessary
our asset shareholders. turn a expect summary, consolidated retirement, the portfolio, while through I the and delivering call CFO, innovation Coughlin. our of we sales. We our the as accelerated to have decarbonization to fuel achieve attractive now Steve that, In our to over position of in conversions leader objective a industry combination and this of returns With
