

                                                                    EXHIBIT 23.2

                       CONSENT OF INDEPENDENT ACCOUNTANTS


We  hereby  consent  to  the   incorporation  by  reference  in  the  Prospectus
constituting  part  of the  Registration  Statement  on  Form  S-4  of  The  AES
Corporation  of our report  dated  February 28, 1997  relating to the  financial
statements  of  Companhia  Energetica  de Mina  Gerais - CEMIG as at and for the
years ended  December 31, 1996 and 1995 prepared in accordance  with  accounting
principles generally accepted in Brazil, which appears in the Item 7 on Form 8-K
of The AES Corporation  dated July 16, 1997 and to the reference to us under the
heading  "Experts"  in the  Prospectus  which  is   part  of  such  Registration
Statement.


/s/ Price Waterhouse
Auditores Independentes
Belo Horizonte, MG-Brazil
August 8, 1997
