<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

                                February 18, 1997
                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 February  18, 1997,  The AES  Corporation  (the  "Company")
announced that it had reached agreement to acquire the international business of
Destec Energy.  Incorporated herein by reference in Exhibit 20.6 attached hereto
are details of the announcement.


Item 7.           Financial Statements and Exhibits.


                  The following is filed as an Exhibit to this Report.

                  Exhibit Number 20.6

                  Description

                  News  Release  Announcing  the  Company's  acquisition  of the
                  international assets of Destec Energy.

<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:  February 18, 1997
<PAGE>

EXHIBIT INDEX

EXHIBIT NO.    DESCRIPTION


     20.6       News Release Announcing the Company's Acquisition of Destec.
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{"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": "97537293"}, "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

                                February 18, 1997
                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 February  18, 1997,  The AES  Corporation  (the  "Company")
announced that it had reached agreement to acquire the international business of
Destec Energy.  Incorporated herein by reference in Exhibit 20.6 attached hereto
are details of the announcement.

Item 7.           Financial Statements and Exhibits.

                  The following is filed as an Exhibit to this Report.

                  Exhibit Number 20.6

                  Description

                  News  Release  Announcing  the  Company's  acquisition  of the
                  international assets of Destec Energy.
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:  February 18, 1997
EXHIBIT INDEX

EXHIBIT NO.    DESCRIPTION

     20.6       News Release Announcing the Company's Acquisition of Destec.