AES Announces Plans to Increase Investment in Alternative Energy, Including LNG
Posted on Apr 17, 2006 in Financing, Markets and Competition, Regas Terminals & Capacity | Comments Off on AES Announces Plans to Increase Investment in Alternative Energy, Including LNG
AES today announced plans to invest approximately $1 billion over the next three years to expand its alternative energy business, including LNG. Predicting that traditional sources of energy will not satisfy growing demand, AES will invest in wind, biomass and LNG to generate over 17 million tonnes of carbon reduction credits through 2012. AES has three proposed LNG import facilities for the east coast: AES Ocean Express in the Bahamas with a pipeline to Florida; Sparrows Point LNG near Baltimore, Md.; Battery Rock LNG on Outer Brewster Island, off the coast of Boston, Massachusetts. The company says it is focusing on the growing markets of New England, the Mid-Atlantic and South Eastern U.S. The press release is available at AES.com.