GE, AES Plan Partnership to Cut Greenhouse Gases
Date: 17-Jan-07
Country: US
The 50-50 business partnership is intended for "creating carbon offsets and selling them to third parties who either want to reduce their own emissions or resell the offsets to consumers," Bill Luraschi, head of AES's alternative energy unit, told Reuters.
Target volume is 10 million tonnes of greenhouse gas offsets by 2010. That's roughly the annual carbon dioxide emission from 2.2 million cars, according to Luraschi.
The reduction would primarily come from the capture or destruction of methane, a gas which has a warming potential 21 times greater than carbon dioxide, AES said.
The projects under consideration include cutting methane emissions from agricultural waste, landfills, coal mines and wastewater treatment.
In addition to methane-based projects, the partnership might also pursue the development of offsets through energy efficiency projects and electricity generation from renewable sources.
AES said it does not have a specific investment target for the partnership.
