CHINA, U.S. UTILITIES INK NEW ENERGY DEAL

US Duke Energy in cleantech MOU with China's Huaneng
Leonora Walet (w/Chris Lewis), August 10, 2009 (Reuters)

"U.S. power producer Duke Energy Corp has agreed to work with China Huaneng Group, the country's largest electricity provider, to explore technologies for cleaner emissions by coal-fired power plants.

"Duke Energy, the third-largest electric power company in the U.S., and China Huaneng said they had signed a memorandum of understanding that would allow for the exchange of information on measures to cut coal plant emissions and develop renewable sources of electricity."

Good question. (click to enlarge)

"One key focal point in the agreement will be information exchange on emerging cleaner-coal technologies, including carbon capture and goal gasification…The companies' top executives would identify initiatives in which they could develop clean power technologies together over the long term…

"The greenhouse gas emissions of the world's top carbon emitters are driven by their huge appetites for fossil fuels. The United States consumes more oil and natural gas than any other country and is second only to China in coal consumption…China relies on coal, the most carbon-intensive energy source for over two-thirds of its energy needs, including about 80 percent of its electricity…"

Looks like it will take a long time and cost a lot of money to find out if it's feasible. (click to enlarge)

"Duke Energy has plans to spend $121 million to study a carbon capture technology that can trap underground up to 60 percent of carbon dioxide emitted by a power plant. The plan is on top of the $17 million it has already spent on carbon capture studies…The parent of Huaneng Power International will launch its second pilot carbon capture project in Shanghai at the end of this year, but high costs are holding back further progress.

"By 2050, capturing carbon dioxide before it is released into the atmosphere could provide 15 percent of the cuts required to stop global warming, the International Energy Agency estimated this year, but despite a number of pilot projects across the world, the technology is still far from mature."