
<PAGE>   1
                      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: March 24, 1996




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



         DELAWARE                     333-15487                 54-1163725
  (State of Incorporation)       (Commision File No.)       (I.R.S. Employer 
                                                            Identification No.)



                            1001 North 19th Street
                             Arlington, Va 22209

         (Address of principal executive offices, includingzip code)




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


                                NOT APPLICABLE
        (Former Name or Former Address, if changed since last report)
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Item 5: OTHER EVENTS

        The AES Corporation (the "Company") and AES Trust I (the "Trust")
propose to conduct public offerings (the "Public Offerings") pursuant to a
registration statement on Form S-3 (No. 333-15487) filed with the Securities
and Exchange Commission together with Amendments No. 1 and No. 2 thereto (the
"Registration Statement").

        The Company is filing the underlying documents for the proposed public
offering via this Form 8-K.
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ITEM 7. Financial Statements, Pro Forma Financial Information and Exhibits

          The following items are filed as exhibits to this current report 
          on Form 8-K:


        4.1     Form of the Amended and Restated Declaration of Trust, 
                among The AES Corporation, The First National Bank of 
                Chicago and First Chicago Delaware Inc.    
                
        4.2     Form of Junior Subordinated Indenture between the AES 
                Corporation and The First National Bank of Chicago.

        4.3     Form of First Supplemental Indenture between The AES 
                Corporation and the First National Bank of Chicago. 

        4.4     Form of Guarantee Agreement between The AES Corporation 
                and The First National Bank of Chicago.



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                                   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


                                        By: /s/ Barry J. Sharp
                                           ----------------------------------
                                                Barry J. Sharp
                                                Vice President
                                                and Chief Financial Officer


Date:  March 24, 1997


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                                EXHIBIT INDEX
                                -------------





Exhibit
  No.                            Description
-------                          -----------

  4.1     Form of the Amended and Restated Declaration of Trust, among The AES
          Corporation, The First National Bank of Chicago and First Chicago
          Delaware Inc.
                
  4.2     Form of Junior Subordinated Indenture, between the AES Corporation and
          The First National Bank of Chicago.

  4.3     Form of First Supplemental Indenture, between The AES Corporation and
          the First National Bank of Chicago.

  4.4     Form of Guarantee Agreement, dated March ___, 1997 between 
          The AES Corporation and The First National Bank of Chicago.



