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Market News

 August 11, 2009
Energy Titans Team Up for Clean Coal Technologies

 A partnership between two of the largest energy utilities in China and the US will explore clean energy initiatives derived from coal and wind which could lead to significant technology advances in the energy sector.

Executives from Duke Energy and China Huaneng Group - a Beijing-based utility that produces more than 10% of the electricity consumed in China - met recently in Beijing to sign the memorandum to promote high level discussions and information sharing.

According to Duke Energy CEO Jim Rogers, "We find ourselves at a pivotal point in world history, to deal with global warming requires rapid action from all of us, and clearly China Huaneng Group and Duke Energy are playing a leadership role on this issue."

"China has committed to rapidly developing clean-energy technologies, as has the US, working together, the US and China can commercialize and drive down the cost of these technologies for the benefit of the entire world," added Rogers

The focal point of discussions between the two companies is to explore emerging cleaner-coal technologies including carbon capture and sequestration and coal gasification.  Both China and the US are the top emitters of CO2, as both nations derive the majority of their electricity from coal power plants.

However, both companies have been breaking new ground on major emissions reducing projects.

Duke energy is building one of the largest and most advanced coal gasification power plants in the world in Edwardsport, Indiana.  The facility is scheduled to open in 2012 and will be capable of producing 630-megawatts.

The China Huaneng Group has built the nation’s first CO2 capturing demonstration facility in Beijing.  A larger scale CO2 capturing facility is set to open in Shanghai by the end of 2009.