There are two possible meanings.
1) An asynchronous generator is simply an induction motor operated with an 'overhauling load'. This means that the 'load' (in this case the mechanical prime mover of the cogen plant) pushes the motor faster than synchronous speed. The motor draws reactive power from the line to set up its magnetic field, but outputs real power to the line. Such a generator is automatically in synch with the mains supply, as long as the rotor is spinning anywhere around synchronous speed. You still need to deal with all of the problems associated with starting a large induction motor, and the motor speed still needs to be approximately matched to synchronous speed, but you don't need the precision matching of phase angle and frequency as with a synchronous generator.
2) The generator spins at whatever speed the prime mover pushes it at, and some sort of electronic power conversion system (rectifier-inverter set) converts the output to line synchronized output.
-Jon