Coalition Turns Up Heat On AES Hydro Projects
AES Corporation is facing increased pressure from The Center for Biological Diversity, along with more than 50 indigenous and environmental groups, that are demanding it to withdraw from three proposed hydroelectric projects on the Changuinola River.
The groups say that the projects threaten La Amistad International Park in Panama, dependent wildlife, and local communities slated to be displaced by flooding.
AES has been financing the projects and its subsidiary in Panama, AES Changuinola, S.A., would operate the three dams. A fourth dam would be operated by Hidroecologica del Teribe, S.A., a subsidiary of the Colombian-owned Empresas Publicas de Medellin, on the Bonyic River, a tributary of the Rio Teribe., according to the CBD.
AES has received a lot of coverage lately. Most notably when it and GE Energy Financial Services created a partnership to develop greenhouse gas emission reduction projects in the U.S. The partnership seeks to create an annual production volume of 10 million tons of GHG offsets by 2010. Initially, the partnership plans to sell offsets from these projects to commercial and industrial customers that voluntarily seek to reduce the environmental impact of their operations.
The partnership is also supplying the carbon offsets that are used as rewards for GE’s Money Earth Rewards Platinum MasterCard.
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