China Huaneng Group Joins in U.S. "FutureGen"
Posted on: Friday, 28 October 2005, 09:00 CDT
China Huaneng Group joins in U.S. "FutureGen"
BEIJING, Oct. 27 (Xinhua) -- China Huaneng Group signed a membership agreement with the U.S. FutureGen Industrial Alliance Inc. here Thursday, announcing the participation of the first Chinese company in the hi-end "FutureGen" project.
The U.S. "FutureGen" project, initiated by U.S. president George W. Bush in 2003, aims to design, build, and operate the first-ever zero-emission coal-fired commercial power plant in ten years with an investment of 950 million US dollars.
The power plant will be installed with a capacity of 275,000 kilowatts while elevating the power generation efficiency above 60 percent. As claimed, the power plant will produce hydrogen as well, and is capable of separating and sealing up one million tons of carbon dioxide annually.
The project, organized with cooperation between the government and enterprises, will receive more than 600 million dollars from the U.S. government, while Alliance Inc. will offer 250 million dollars, with 20 million from each member company and the other 80 million to be financed by other governments.
Up to the present, seven internationally well-known energy enterprises including AEP (American Electric Power) have joined the "FutureGen". Huaneng Group is the eighth and only enterprise from China.
China's recently published proposals for the eleventh "five-year- plan" stressed the strategic focus on coal in building the energy resource industry in the future.
The investment from Huaneng in "FutureGen" accounts for two percent of the company's total investment. However, Huaneng is in a position to share the technology and achievements of "FutureGen" as a shareholder, sources with Huaneng said.
Huaneng Group is a state-owned enterprise involved in the development, investment, construction, and operation of electric power projects and the exploration of elementary electricity- related energy resources such as coal. It accounts for nine percent of the national total installed capacity, and 11 percent of the country's total electricity generation as the largest independent electric power generator.
Source: Xinhua News Agency - CEIS
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