Redeemable Stocks of Subsidiaries (Notes)

3 Months Ended

Mar. 31, 2021

Redeemable Stock of Subsidiaries [Abstract]

Redeemable Noncontrolling Interest [Table Text Block]

REDEEMABLE STOCK OF SUBSIDIARIES

The following table summarizes the Company’s redeemable stock of subsidiaries balances as of the periods indicated (in millions):

	March 31, 2021		December 31, 2020
IPALCO common stock	$	618	$	618
Colon quotas (1)	180		194
AES Clean Energy Development common stock	175		—
AES Indiana preferred stock	60		60
Total redeemable stock of subsidiaries	$	1,033	$	872

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(1)Characteristics of quotas are similar to common stock.

AES Clean Energy Development — On February 1, 2021, the Company substantially completed the merger of the sPower and AES Distributed Energy development platforms to form AES Clean Energy Development, which will serve as the development vehicle for all future renewable projects in the U.S. As part of the transaction, AlMCo, our existing partner in the sPower equity method investment, received a 25% minority ownership interest in the newly formed entity along with certain partnership rights, though not currently in effect, that would enable AIMCo to exit in the future. As a result, the minority ownership interest is considered temporary equity. Any subsequent changes in the redemption value of the exit rights will be recognized in permanent equity. See Note 18—Acquisitions for further information.