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Peabody Energy Joins China's 'GreenGen' Project
  China

Thursday, Dec 13, 2007
Source: USSTOCK
Article Type: Cited

Peabody Energy has become the only non-Chinese equity partner in GreenGen, the first near-zero emissions coal-fueled power plant with carbon capture and storage under development in China.

The US $1 billion GreenGen project, led by managing partner China Huaneng Group, will involve the design and operation of an integrated gasification combined cycle (IGCC) powerplant 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.

GreenGen believes the site is in an optimum location near a number of chemical facilities that create opportunities to utilize the project's syngas, heat and byproducts and power, while some of the CO2 will go to enhanced oil recovery projects.

China Huaneng is the majority shareholder in GreenGen while 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.

Peabody opened its Beijing office in fall 2005 and began trading activities in China in 2007. It is the world's largest private-sector coal company.

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