AES Corporation Planning Billion Dollar Alternative Energy Investment
by John Laumer, Philadelphia on 04.19.06
From the Reuters news service of April 17th: "International electric utility operator AES Corp. on Monday said it planned to spend about $1 billion over the next three years to expand its alternative energy business. The company said it was creating an alternative energy business group, which would invest in expanding its wind generation business and the development of technologies that reduce greenhouse gas emissions or create emission offsets. It will also invest in liquefied natural gas, or LNG, terminals". According to the relsease, about half of the $1 billion will go into wind power which reminds us of this. We think the Reuters news item overlooked some of the most intersting aspects of the AES plan.
From the AES release:
"AES has entered strategic partnerships with Los Alamos National Laboratory and XL TechGroup (AIM:XLT), to identify, evaluate and bring to market new technologies in the alternative energy area. AES's partnerships with Los Alamos and XL Tech Group - an architect and builder of high value new businesses, primarily in the ecotech, biotech and medtech fields - give AES the opportunity to develop and commercialize proprietary energy-related technologies developed by these entities.
AES said it is evaluating future investments in other sources of alternative energy such as solar power and wave technologies. The company said it is also evaluating future investments in non-electric business lines such as ethanol, bio diesel, methane capture and conversion projects, synthetic fuels and new technologies to reduce greenhouse gas emissions".
The AES release (see link above) is lengthy and fascinating reading. AES has, either by chance or by intention, thereby distanced itself from the pack of "climate skeptics" that have tended to dominate the power industry until recently. Good stuff AES.
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