May 5, 2006—The AES Corporation, one of the world’s largest power companies, has announced it is creating an “alternative energy business group” that will invest about $1 billion in alternative energy, including wind power and biomass, over the next three years.
AES has invested $265 million in the wind generation business since 2004 and promises to triple its investments in wind power. The company also plans to create new alternative energy technologies through a partnership with the US Department of Energy’s Los Alamos National Laboratory.
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.
For more information on AES, visit the company Web site.
