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): July 3, 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 5. OTHER EVENTS


         The AES  Corporation  announced  today that it had  commenced a private
offering of $275 million of Senior  Subordinated Notes due 2007. The proceeds of
the offering,  if  consummated,  would be used to refinance  certain  short-term
acquisition   indebtedness   and  to  redeem  AES'  outstanding  9  3/4%  Senior
Subordinated  Notes due 2000.  The securities  offered have not been  registered
under the  Securities  Act of 1933 and may not be  offered or sold in the United
States  absent  registration  or  an  applicable   exemption  from  registration
requirements.




<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 3, 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): July 3, 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 5. OTHER EVENTS

         The AES  Corporation  announced  today that it had  commenced a private
offering of $275 million of Senior  Subordinated Notes due 2007. The proceeds of
the offering,  if  consummated,  would be used to refinance  certain  short-term
acquisition   indebtedness   and  to  redeem  AES'  outstanding  9  3/4%  Senior
Subordinated  Notes due 2000.  The securities  offered have not been  registered
under the  Securities  Act of 1933 and may not be  offered or sold in the United
States  absent  registration  or  an  applicable   exemption  from  registration
requirements.
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 3, 1997                          By /s/ Barry J. Sharp
                                              ---------------------------
                                               Barry J. Sharp
                                               Chief Financial Officer