<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT


     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

                                November 13, 1996
                Date of Report (Date of earliest event reported)

                         Commission File Number: 0-19281

                               THE AES CORPORATION
             (Exact name of registrant as specified in its charter)

                                    Delaware
         (State or other jurisdiction of incorporation or organization)

                                   54-1163725
                        (IRS Employer Identification No.)

                             1001 North 19th Street
                            Arlington, Virginia 22209
                     (Address of principal executive office)

                         Telephone Number (703) 522-1315
              (Registrant's telephone number, including area code)



<PAGE>

Item 5.           Other Events.

                  On November  12, 1996,  The AES  Corporation  (the  "Company")
announced that it signed a definitive  agreement  with AES China  Generating Co.
Ltd.  ("Chigen")  whereby the Company will acquire  Chigen's  approximately  8.2
million  outstanding Class A shares of Common Stock,  subject to the approval of
the Chigen public shareholders. Incorporated herein by reference in Exhibit 20.4
attached hereto are details of the amalgamation.


Item 7.           Financial Statements and Exhibits.

                  The following is filed as an Exhibit to this Report.

                  Exhibit Number 20.4

                  Description

                  News Release  Announcing the Agreement Between the Company and
                  Chigen Whereby the Company will Acquire the Chigen's  Publicly
                  Held Shares in Exchange for AES Shares.



<PAGE>

SIGNATURE

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

The AES Corporation
(Registrant)



BY:      WILLIAM R. LURASCHI
         --------------------------
         WILLIAM R. LURASCHI
         GENERAL COUNSEL AND SECRETARY

Dated:  November 13, 1996

<PAGE>


EXHIBIT INDEX


EXHIBIT NO.    DESCRIPTION


20.4           News  Release  Announcing  the  Agreement  Between  the 
               Company and Chigen Whereby the Company will Acquire the Chigen's
               Publicly  Held Shares in Exchange for AES Shares.
[{"type": "8-K", "sequence": "1", "description": "8-K FOR THE AES CORPORATION", "secsgml_size_bytes": 2756}]
{"company-data": {"conformed-name": "AES CORPORATION", "cik": "0000874761", "assigned-sic": "4991", "irs-number": "541163725", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-12291", "film-number": "96661764"}, "business-address": {"street1": "1001 N 19TH ST", "city": "ARLINGTON", "state": "VA", "zip": "22209", "phone": "7035221315"}}
UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

                                November 13, 1996
                Date of Report (Date of earliest event reported)

                         Commission File Number: 0-19281

                               THE AES CORPORATION
             (Exact name of registrant as specified in its charter)

                                    Delaware
         (State or other jurisdiction of incorporation or organization)

                                   54-1163725
                        (IRS Employer Identification No.)

                             1001 North 19th Street
                            Arlington, Virginia 22209
                     (Address of principal executive office)

                         Telephone Number (703) 522-1315
              (Registrant's telephone number, including area code)
Item 5.           Other Events.

                  On November  12, 1996,  The AES  Corporation  (the  "Company")
announced that it signed a definitive  agreement  with AES China  Generating Co.
Ltd.  ("Chigen")  whereby the Company will acquire  Chigen's  approximately  8.2
million  outstanding Class A shares of Common Stock,  subject to the approval of
the Chigen public shareholders. Incorporated herein by reference in Exhibit 20.4
attached hereto are details of the amalgamation.

Item 7.           Financial Statements and Exhibits.

                  The following is filed as an Exhibit to this Report.

                  Exhibit Number 20.4

                  Description

                  News Release  Announcing the Agreement Between the Company and
                  Chigen Whereby the Company will Acquire the Chigen's  Publicly
                  Held Shares in Exchange for AES Shares.
SIGNATURE

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

The AES Corporation
(Registrant)

BY:      WILLIAM R. LURASCHI
         --------------------------
         WILLIAM R. LURASCHI
         GENERAL COUNSEL AND SECRETARY

Dated:  November 13, 1996
EXHIBIT INDEX

EXHIBIT NO.    DESCRIPTION

20.4           News  Release  Announcing  the  Agreement  Between  the 
               Company and Chigen Whereby the Company will Acquire the Chigen's
               Publicly  Held Shares in Exchange for AES Shares.