AES AND AGCERT INTERNATIONAL JOIN FORCES TO REDUCE GREENHOUSE GAS EMISSIONS

The AES Corp. (Arlington, VA; www.aes.com) and AgCert International plc (Dublin, Ireland; www.agcert.com) have formed AES AgriVerde, a joint venture designed to deploy AgCert's greenhouse-gas-emission (GGE) reduction technology in selected countries in Asia, Europe and North Africa. Under the terms of the agreement, AES maintains a majority interest in the joint venture and plans to invest approximately $325 million into the joint venture over the next five years. In addition, AES has invested approximately $52 million to acquire an approximate 9% equity interest in AgCert.

By 2012, AES AgriVerde intends to create a production volume of 20 million ton/yr of GGE reductions through …