ADB approves loan for green coal-fired plant
Source: Xinhua |
February 9, 2010, Tuesday
|
Print Edition
Print Edition
THE Asian Development Bank yesterday said it had approved a US$135 million loan to help China build a coal-fired integrated gasification combined cycle power plant, whose carbon dioxide emission rate is a 10th of a normal coal-fired plant.
The US$419.59 million project, due to be completed in Tianjin by 2012, will be the first IGCC plant in a developing country and can generate up to 1,470 gigawatt-hours of electricity every year, the Philippines-based lender said.
Plants using IGCC technology turn coal into a synthetic gas, removing impurities, before the gas is burned in a gas turbine, the bank said, adding that it is more efficient than other clean coal technologies but its adoption has been slow due to high costs and perceived technology complexity.
The bank is providing an additional US$1.25 million in technical assistance to pave the way for the second and third phases of the program which will result in a scaled-up IGCC plant fitted with carbon capture and storage technology by 2013.
Studies show that it is now the least-cost option to cut carbon dioxide emissions from coal-fired power plants by up to 90 percent.
The remaining costs of the Tianjin IGCC project will be funded from equity contributions of US$84 million, a loan of US$195.59 million from a group of local banks and the grant from the ADB's Climate Change Fund.
China is among the world's top coal consumers. The government has launched a clean coal power generation program aiming to sharply reduce pollution as well as lower carbon dioxide emissions.
The US$419.59 million project, due to be completed in Tianjin by 2012, will be the first IGCC plant in a developing country and can generate up to 1,470 gigawatt-hours of electricity every year, the Philippines-based lender said.
Plants using IGCC technology turn coal into a synthetic gas, removing impurities, before the gas is burned in a gas turbine, the bank said, adding that it is more efficient than other clean coal technologies but its adoption has been slow due to high costs and perceived technology complexity.
The bank is providing an additional US$1.25 million in technical assistance to pave the way for the second and third phases of the program which will result in a scaled-up IGCC plant fitted with carbon capture and storage technology by 2013.
Studies show that it is now the least-cost option to cut carbon dioxide emissions from coal-fired power plants by up to 90 percent.
The remaining costs of the Tianjin IGCC project will be funded from equity contributions of US$84 million, a loan of US$195.59 million from a group of local banks and the grant from the ADB's Climate Change Fund.
China is among the world's top coal consumers. The government has launched a clean coal power generation program aiming to sharply reduce pollution as well as lower carbon dioxide emissions.
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