SHOW ME THE MONEY: Clean Coal Power Initiative Round 3
On June 9, 2009, the Department of Energy (“DOE”) re-opened a Funding Opportunity Announcement (“FOA”) related to the Clean Coal Power Initiative (“CCPI”). The CCPI is a cost-shared collaboration between government and industry to advance clean coal technologies in accordance with the Energy Policy Act of 2005. CCPI goals include advancing clean coal technologies for commercial development.
This FOA provides $1.4 billion for CCPI projects, of which sum $800,000 is being made available under the American Recovery and Reinvestment Act (the “Recovery Act”). The funding can be directed at the following types of projects:
- Demonstration of a commercial technology that achieves a 50% CO2 capture efficiency and makes progress toward a target CO2 capture efficiency of 90% in a gas stream containing at least 10% CO2 by volume;
- Capture and sequestration goals of less than 10% increase in the cost of electricity for gasification systems and less than 35% for combustion and oxycombustion systems as compared to 2008 practice; and
- Capture and sequester or put to beneficial use a minimum of 300,000 tons per year of CO2 emissions.
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