Tuesday, January 29, 2008

U.S. Government Abandons Plans for First Clean Coal Power Plant

U.S. (TGW) – The future of the world’s cleanest coal-burning plant is in jeopardy after the U.S. Department of Energy (DOE) backed off plans to fund the research project.

The FutureGen plant was supposed to be the first facility in the world to utilize carbon sequestration technologies.

However, the Energy Department, which was supposed to bear about 75% of the costs, is balking at cost overruns of about $900 million.

Energy Secretary Sam Bodman met with Illinois officials, and told them he plans to "direct the department to begin to pursue other options," according to some of the officials.

"After our meeting today it is clear that Secretary of Energy Sam Bodman has misled the people of Illinois, creating false hope in a FutureGen project which has no intention of funding or supporting," Senator Dick Durbin said in a statement.

Via :: Reuters :: Press Release