A little late in reporting, but still significant:
Peabody Energy (NYSE: BTU) became the only non-Chinese equity partner in "GreenGen," the first near-zero emissions coal-fueled power plant with carbon capture and storage (CCS) which is under development in China. . . .
The US$1 billion GreenGen project 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. . . .
Led by managing partner China Huaneng Group, the GreenGen Company will design, develop and operate an integrated gasification combined cycle (IGCC) power plant near Tianjin, southeast of Beijing. A 250-megawatt plant will be built in the initial phase, expanding to 650-megawatts 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. . .
Capacity of Power Plants in China
China is the world's largest and fastest-growing coal-consuming nation, using coal to power nearly three-fourths of its electricity. . . .
China Huaneng is the majority shareholder in GreenGen. Peabody will own 6 percent of the initiative. Huaneng is one of the top 10 power companies in the world, and the largest power generator in the People's Republic of 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 U.S. Department of Energy to develop and site a 275-megawatt technology prototype that also would achieve near-zero emissions with carbon capture and storage. FutureGen
will select a host site this yearselected a site near Mattoon, Ill in December for the $1.8 billion plant, and will begin electricity generation in 2012. . . .
Peabody Energy is the world's largest private-sector coal company. Its coal products fuel approximately 10 percent of all U.S. electricity generation and more than 2 percent of worldwide electricity.
This is an indication that China is not totally ignoring the consequences of CO2 emissions from coal powered power plants. Initial operation in 2009 (probably without carbon capture) is an aggressive plan. The graph above indicates that construction of coal fired plants in the next 13 years is unfettered, presumably because of the industrialization and population growth in China. They are putting a lot of resources into renewables but it is only a drop in the bucket. What else can they do of any consequences?