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

         Date of Report (date of earliest event reported): June 30, 1997

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

       DELAWARE                   333-15487                    54-1163725
     (State  of               (Commission File No.)           (IRS Employer 
    Incorporation)                                         Identification No.)

                       1001 North 19th Street, Suite 2000
                            Arlington, Virginia 22209
          (Address of principal executive offices, including zip code)

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

                                 NOT APPLICABLE

          (Former Name or Former Address, if changed since last report)


<PAGE>
ITEM 2.  ACQUISITION OF DISPOSITION OF ASSETS

On June 30, 1997, AES acquired the international  assets of Destec Energy,  Inc.
("Destec"),  a large  independent  energy producer with headquarters in Houston,
Texas,  at a total price to AES of  approximately  $436 million,  which price is
subject to  adjustment  to reflect net cash flow  adjustments.  NGC  Corporation
("NGC"),  working in conjunction with AES, was selected as the winning bidder in
an auction for all of Destec at a total acquisition price of $1.27 billion.  AES
acquired  the  international  assets  of  Destec  immediately   following  NGC's
acquisition of Destec.  Destec's  international  assets  acquired by AES include
ownership  interests in the  following  five  electric  generating  plants (with
ownership  percentages in  parentheses):  (i) a 110 MW gas-fired  combined cycle
plant in Kingston,  Canada (50 percent);  (ii) a 405 MW gas-fired combined cycle
plant in Terneuzen,  Netherlands (50 percent);  (iii) a 140 MW gas-fired  simple
cycle plant in Cornwall,  England (100 percent);  (iv) a 235 MW oil-fired simple
cycle plant in Santo Domingo,  Dominican Republic (99 percent);  and (v) a 1,600
MW coal-fired plant ("Hazelwood") in Victoria,  Australia (20 percent).  Each of
such plants is currently in operation,  except for the plant in Terneuzen  which
is under construction.  The acquisition by AES of Destec's  international assets
also includes Destec's non-U.S.  developmental  stage power projects,  including
projects in Taiwan, England,  Germany, the Philippines,  Australia and Colombia.

AES funded its  acquisition of Destec through cash on hand and borrowings  under
its $425 million  revolving credit facility (the "Revolver")  provided by Morgan
Guaranty First Company of New York and a syndicate of banks.


ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS

a.   Financial statements of Businesses Acquired

     The   required   audited   financial   statements,   if  any,  of  Destec's
international assets will be filed on or prior to September 12, 1997.

b.   Unaudited Pro Forma Consolidated Financial Information

     The  required  pro  forma  financial  information,  if  any,  for  Destec's
international assets will be filed on or prior to September 12, 1997.


<PAGE>

                                   SIGNATURES

     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 hereunto duly authorized.


                                            THE AES CORPORATION
                                            -------------------
                                                (Registrant)

Date: July 14, 1997                          By /s/ Barry J. Sharp
                                              ---------------------------
                                               Barry J. Sharp
                                               Chief Financial Officer
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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

         Date of Report (date of earliest event reported): June 30, 1997

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

       DELAWARE                   333-15487                    54-1163725
     (State  of               (Commission File No.)           (IRS Employer 
    Incorporation)                                         Identification No.)

                       1001 North 19th Street, Suite 2000
                            Arlington, Virginia 22209
          (Address of principal executive offices, including zip code)

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

                                 NOT APPLICABLE

          (Former Name or Former Address, if changed since last report)
ITEM 2.  ACQUISITION OF DISPOSITION OF ASSETS

On June 30, 1997, AES acquired the international  assets of Destec Energy,  Inc.
("Destec"),  a large  independent  energy producer with headquarters in Houston,
Texas,  at a total price to AES of  approximately  $436 million,  which price is
subject to  adjustment  to reflect net cash flow  adjustments.  NGC  Corporation
("NGC"),  working in conjunction with AES, was selected as the winning bidder in
an auction for all of Destec at a total acquisition price of $1.27 billion.  AES
acquired  the  international  assets  of  Destec  immediately   following  NGC's
acquisition of Destec.  Destec's  international  assets  acquired by AES include
ownership  interests in the  following  five  electric  generating  plants (with
ownership  percentages in  parentheses):  (i) a 110 MW gas-fired  combined cycle
plant in Kingston,  Canada (50 percent);  (ii) a 405 MW gas-fired combined cycle
plant in Terneuzen,  Netherlands (50 percent);  (iii) a 140 MW gas-fired  simple
cycle plant in Cornwall,  England (100 percent);  (iv) a 235 MW oil-fired simple
cycle plant in Santo Domingo,  Dominican Republic (99 percent);  and (v) a 1,600
MW coal-fired plant ("Hazelwood") in Victoria,  Australia (20 percent).  Each of
such plants is currently in operation,  except for the plant in Terneuzen  which
is under construction.  The acquisition by AES of Destec's  international assets
also includes Destec's non-U.S.  developmental  stage power projects,  including
projects in Taiwan, England,  Germany, the Philippines,  Australia and Colombia.

AES funded its  acquisition of Destec through cash on hand and borrowings  under
its $425 million  revolving credit facility (the "Revolver")  provided by Morgan
Guaranty First Company of New York and a syndicate of banks.

ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS

a.   Financial statements of Businesses Acquired

     The   required   audited   financial   statements,   if  any,  of  Destec's
international assets will be filed on or prior to September 12, 1997.

b.   Unaudited Pro Forma Consolidated Financial Information

     The  required  pro  forma  financial  information,  if  any,  for  Destec's
international assets will be filed on or prior to September 12, 1997.
SIGNATURES

     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 hereunto duly authorized.

                                            THE AES CORPORATION
                                            -------------------
                                                (Registrant)

Date: July 14, 1997                          By /s/ Barry J. Sharp
                                              ---------------------------
                                               Barry J. Sharp
                                               Chief Financial Officer