AES AgriVerde Reducing Carbon Emissions

AES AgriVerde’s investment in the CDM project at Foong Lee Sawiminyak is expected to reduce carbon dioxide emissions by up to 57,000 tonnes annually through the emission reduction of methane.

As part of the project, AES AgriVerde has installed bio-digester, which traps biogas emitted from anaerobic decay of organic solids.

AES AgriVerde is also responsible for the project financing, regulatory management, monitoring and operation of the project.

This scope includes the registration of the project by the Clean Development Mechanism Executive Board pursuant to the Kyoto Protocol.

Under the agreement, any income from the certified emission reductions (CERs) issued to the project will be shared between AES AgriVerde and Foong Lee Sawiminyak.

CDM projects have been touted as an initiative to boost sustainable development for Malaysia’s palm oil industry.

Besides combating global warming, palm oil mills can also gain competitive advantages with CDM implementations by increasing the efficiency of their waste water management, benefiting from the transfer of technology, reducing their cost by channeling the biogas into fuel power and enjoying an additional revenue stream from sales of CERs.

"This is our first CDM project in Malaysia and we are pleased to team with exemplary leader like Foong Lee who has demonstrated a leading edge commitment in environmental best practices. Foong Lee's support has led to a rapid and efficient establishment of the CDM project," said Mark Leslie, Vice President of Southeast and East Asia, AES AgriVerde.

"The partnership with AES AgriVerde has benefited us on many levels. Their expertise in CDM projects has provided a viable solution for the palm oil industry to overcome waste management challenges and an innovative method for renewable energy. AES AgriVerde’s contribution has also allowed our palm oil mill to explore new business opportunities while boosting sustainable development," said Mr Chan Chee Keong, Managing Director of Foong Lee Sawiminyak.

Mr Leslie added that "Carbon offsets play an important role in the fight against global warming and the stimulation of sustainable development. AES began investing in emission offset projects over two decades ago and is one of the only companies to have built a CDM project in Malaysia. With more than 40 projects in our regional pipeline, we aim to have several hundred projects completed in the region within the next few years”.

AES AgriVerde plans to invest $325 million in greenhouse gas emission reduction projects globally.

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