International Mining's January 2008 'The Leader' examines China's progressive approach to clean coal power and coal-to-liquid developments. The $1 billion GreenGen project is another example. It will use advanced coal-based technologies to generate electricity for Chinese families and businesses using China's most abundant energy resource. It will be capable of hydrogen production and will advance carbon dioxide capture and storage, providing a clean energy prototype to address carbon dioxide concerns. Recently Peabody Energy became the only non-Chinese equity partner. GreenGen is the first near-zero emissions coal-fueled power plant with carbon capture and storage under development in China. "Peabody is honoured to represent the rest of the world in China's most important climate initiative," said Peabody Chairman and CEO Gregory H. Boyce. "Peabody is a leader in advancing technology-based solutions to climate concerns. GreenGen joins other important carbon initiatives involving Peabody on several continents, including the Coal21 program in Australia, FutureGen in the US, and the Asia-Pacific Partnership."
Led by managing partner China Huaneng Group, the GreenGen Company will design, develop and operate an integrated gasification combined cycle power plant near Tianjin, southeast of Beijing. A 250-MW plant will be built in the initial phase, expanding to 650-MW in later phases. Project design and review is complete, a site has been selected at the Lingang Industrial Park, and construction is expected to commence in early 2008, with the first phase of the plant expected on line by 2009. The project includes multiple phases for additional generation and carbon capture. GreenGen believes the site is in an optimum location near a number of chemical facilities that create opportunities to use the project's syngas, heat and byproducts and power, while storing carbon dioxide to provide enhanced oil recovery.
"We are pleased to have Peabody Energy join GreenGen as a leading coal company to advance this important energy and environmental project," said President of China Huaneng Group, Xiaopeng Li. "Peabody's participation represents another important step forward in voluntary global partnerships to meet long-term energy challenges, promote a cleaner environment and create technology solutions to address concerns about climate change."
China Huaneng is the majority shareholder in GreenGen, Peabody will own 6%. Huaneng is one of the top 10 power companies in the world, and the largest power generator in China. Both Huaneng and Peabody also are members of the FutureGen Alliance, which includes the world's largest coal companies and utilities partnering with the US Department of Energy to develop and site a 275-MW technology prototype that also would achieve near-zero emissions with carbon capture and storage. FutureGen will begin electricity generation in 2012.
Additional partners represent some of China's largest utility and coal companies and include the China Datang Corp, the China Huadian Corp, the China Guodian Corp, the China Power Investment Corp, the Shenhua Group, the China National Coal Group and the State Development and Investment Corp.
