

                                                                   Exhibit 20



AES
The Global Power Company                                           NEWS RELEASE
                                                  Contact:  Kenneth R. Woodcock
FOR IMMEDIATE RELEASE                                            (703) 522-1315

            AES REPORTS SECOND QUARTER EARNINGS PER SHARE INCREASE OF
                             35%, TO $0.50 PER SHARE

                     AES Also Announces 2 for 1 Stock Split
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ARLINGTON, VA, July 15, 1997 - The AES Corporation (NYSE: AES) announced today
that net income was $42 million for the quarter ended June 30, 1997, an increase
of 50% compared to net income of $28 million for second quarter of 1996.
Earnings per share were $0.50 for the quarter, up 35% compared to $0.37 for the
same quarter in 1996. Revenues for the quarter were $261 million, up 50%
compared to $174 million reported in the same period last year.

For the first half of 1997, net income was $82 million, a 44% increase compared
to the first half of 1996. Earnings per share for the first half of 1997 were
$1.00, compared to $0.75 for the same period in 1996. Revenues for the first
half of 1997 were $522 million, up 51% from the $346 million reported a year
earlier.

AES also announced today a 2 for 1 stock split. Each shareholder of record on
July 28, 1997 will receive as a dividend one additional share of AES Common
Stock for each share held on that date, payable on August 28, 1997.

Dennis W. Bakke, President and Chief Executive Officer, commented, "This was an
exciting quarter for AES on many fronts. Our existing plants and businesses
around the world performed well. We also expanded our business in many important
markets, including:

       - completing the amalgamation of AES Chigen into AES,
       - finalizing the acquisition of the non-US businesses of Destec,
       - acquiring with partners the integrated utility, Cemig, in Brazil
         and two distribution companies, Eden and Edes, in Argentina,
       - winning the right to develop the 600 MW gas-fired combined cycle
         Uruguaiana project in Brazil, and
       - funding the 2,100 MW Yangcheng coal-fired plant in China.

The businesses we acquired from Destec in Canada, The Netherlands and the
Dominican Republic, as well as some of the development-stage projects, provide
us with opportunities to expand our relationships and markets in those
countries."

Roger W. Sant, Chairman, stated, "AES people around the world continue to pursue
new opportunities where we can make a difference in the electric sector with
both acquisitions and greenfield plants. We are finding extremely talented
people in the businesses that we acquire 

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and they play an important part in the overall growth of our company. Operating
people from existing AES plants also play an important role in contributing to
AES business development teams. The entreprenuership that has been shown by our
people has been extraordinary."

Highlights of AES's business development successes in 1997 include the
following:

o    In June, AES completed its acquisition of the international businesses of
     Destec Energy, Inc., consisting of five plants in operation and
     construction representing approximately 950 MW (based on AES's net equity
     ownership), and numerous projects in various stages of development.

o    In June, AES announced the initial funding of the 2,100 MW coal-fired
     Yangcheng plant in China.

o    In May, AES and partners won a bid for 14.41% of Cemig, an integrated
     electric utility serving the State of Minas Gerais in Brazil.

o    In May, AES completed the amalgamation with AES China Generating Co. 
     with AES.

o    In May, AES, along with its partner CEA, acquired two electricity
     distribution companies, Eden and Edes, serving the Province of Buenos
     Aires, Argentina.

o    In April, AES won the right to build, own and operate a 600 MW gas-fired,
     combined cycle plant in Uruguaiana, Brazil.

o    In March, AES completed a combined public offering of common stock and
     term convertible securities ("TECONS"), yielding net proceeds to the
     Company of approximately $390 million.

o    In February, a subsidiary of AES raised (pound)112.5 million of
     non-recourse project financing for its 230 MW (net) gas-fired combined
     cycle plant in Barry, South Wales, United Kingdom.

o    In February, AES announced plans to build a 720 MW (net) gas-fired
     combined cycle plant in Pennsylvania to supply electricity to a subsidiary
     of GPU, Inc., pursuant to three restructured power purchase agreements.

o    In January, AES acquired an additional 2.4% interest in Light Servicos de
     Eletricidade S.A., a 3,800 MW integrated Brazilian utility, bringing AES's
     total interest to 13.75%.

o    In January, AES won a bid to build, own and operate a 484 MW (net)
     gas-fired combined cycle power plant in Merida, Mexico.

AES is a leading global power company that currently owns or has an interest in
seventy-five power facilities totaling over 20,000 megawatts in the United
States, Argentina, Brazil, 

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Pakistan, Hungary, Kazakstan, China, Australia, Canada, The Netherlands, The
Dominican Republic and The United Kingdom. In addition to having assets of
approximately $5.8 billion, the Company has more than $5 billion of projects in
construction or late stages of development. AES is dedicated to providing
electricity worldwide in a socially responsible way.

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