AES says various palm oil projects are “impaired”

In Virginia, AES announced that it expected impairment charges of $30-$65 million where the “carrying value of certain projects exceeded their net realizable value. Under generally accepted accounting principles, the Company is required to write down these assets to their net realizable value.”

The projects that have been impaired include certain liquefied natural gas projects supplying North America, various palm oil projects in the Company’s climate solutions business, a previously planned capacity expansion and non-power development project at one of our North American facilities.”

Last year, the company announced Clean Development Mechanism (CDM) projects in Malaysia, primarily focusing on biodigesters, and said that it planned $325 million in greenhouse gas remission projects globally.

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