To meet that market need, AES plans to invest in projects or technologies to reduce or offset emissions.
Since October 2005, AES has committed to investments of approximately $100 million that are associated with projects that will generate over 17 million tonnes of emission reduction credits through 2012.
Through these projects, AES will capture greenhouse gases from the atmosphere to contribute to the solution to global climate change.
These partnerships give AES the opportunity to develop and commercialize proprietary energy-related technologies developed by these entities.
They also necessitate a wide range of skills and experiences unique to AES.
AES has a long history of doing projects in the developing world and has operational presence in 18 countries that qualify as candidates for the development of offset creation projects under the Kyoto Protocol.
In the early 1990s, AES was one of the first companies to voluntarily take steps to help counter the effects of carbon dioxide emissions on global warming when it sponsored the planting of 50 million trees in Guatemala and preserved thousands of acres of rain forest in South America.
The combination of AES's global presence, experience, and desire to be an environmentally conscientious corporate leader makes this market a perfect fit for AES.
AES power development skills place it at an advantage relative to many other industry participants who do not have the operational and permitting experience that AES has.
AES Andres - Dominican Republic AES developed, constructed, and currently owns and operates AES Andres, a one million barrel tank LNG terminal and a 310 megawatt combined-cycle power plant located in the Dominican Republic.
The Bahamas AES has received all US and Bahamian environmental approvals related to the construction of a 900,000 MMbtu/day LNG import terminal that will be located in The Bahamas.
In addition to these projects, the AES team is pursuing two other US LNG import terminals, both of which are in the early development stages.