Secretary Chu made the announcement on a conference call with Governor Joe Manchin, Senator Jay Rockefeller, and President of American Electric Power Company, Inc.
, Mike Morris. These projects will help to enable commercial deployment to ensure the United States has clean, reliable, and affordable electricity and power.
An investment of up to $979 million, including funds from the American Recovery and Reinvestment Act, will be leveraged by more than $2.2 billion in private capital cost share as part of the third round of the Departments Clean Coal Power Initiative (CCPI).
By harnessing the power of science and technology, we can reduce carbon emissions and create new clean energy jobs. This investment is part of our commitment to advancing carbon capture and storage technologies to the point that widespread, affordable deployment can begin in eight to 10 years, said Secretary Chu.
Throughout our history, West Virginia has been a leader in energy and we have helped to power the growth of our nation, said Governor Joe Manchin. West Virginia continues that leadership as we find ways to more cleanly and efficiently use our natural resources. Clean coal solutions are possible and attainable - and that is evident by all of the supporters behind this project. This is so crucial to move this state and nation forward.
I am thrilled to announce this substantial funding - because this is about securing a prosperous economic future for West Virginia, said Senator Rockefeller. Coal has and always will be an enormous part of our West Virginia soul and when we invest in new technologies that make it better and cleaner, we are taking control our future - and that is the key. I firmly believe that these types of technology developments will help in reversing the recent trend of uncertainty in the coal industry and inspire further investment in coal. This funding is a critical down payment for West Virginia's economy, and it's only the beginning.
These Federal stimulus dollars for carbon capture and storage will help ensure that West Virginia coal continues to heat and light our homes and businesses for many years to come. Clean coal can be a green, competitive 21st Century fuel, added Senator Robert C. Byrd.
The projects that were announced demonstrate advanced coal-based technologies that will capture and sequester or put to beneficial use carbon emissions. The selections demonstrate technologies that:
make progress toward a target CO2 capture efficiency of 90%;
make progress toward a capture and sequestration goal of less than 10% increase in the cost of electricity for gasification systems and less than 35% for combustion and oxycombustion systems;
capture and sequester or put to beneficial use an amount of CO2 emissions in excess of the minimum of 300,000 tons per year required by CCPI.
The Clean Coal Power Initiative Round III was created in 2005 to reduce the time it would take for low-emission coal technologies to be ready for commercial use. The awards are the second installment of projects awarded under CCPI Round III. Two projects were previously selected under CCPI Round III in July 2009 to receive $408 million in DOE funds.