That sounds like a plan doesn’t it?
House revives Taylorville Energy Center
OKs beginning of design work on clean-coal power plant
A $2.5 billion clean-coal power plant proposed for Taylorville got a new lease on life Wednesday when the Illinois House overwhelmingly approved a bill developers said is crucial to the project.By an 86-5 vote, the House passed Senate Bill 1987, which will allow design work to begin on the Taylorville Energy Center. It is similar to a bill that failed by 10 votes in the House in the closing hours of the spring session.Rep. Gary Hannig, D-Litchfield, said the latest version contains “some safeguards” to mollify utility giant Commonwealth Edison, which opposed the earlier bill. That includes more oversight of the project by the Illinois Commerce Commission.“They were concerned that some of the cost might be excessive,” Hannig said. “Now the Illinois Commerce Commission will have an opportunity to say yes or no to that. We have to prove to the power companies that we can produce this in Taylorville in a clean and economically feasible way.”The Taylorville Energy Center would use coal-gasification technology and Illinois coal to produce 525 megawatts of electricity while controlling carbon dioxide emissions
Or in their own words:
Tenaska’s Taylorville Energy Center Selected By U.S. DOE For Loan Guarantee Program; Illinois Electric Ratepayers Could Save Up To $60 Million Per Year With $2.5 Billion Guarantee – 07/13/09
TAYLORVILLE, Illinois – July 13, 2009 – Tenaska, managing partner for the $3.5 billion Taylorville Energy Center (TEC), announced today that, following a competitive six-month application process, it has been selected by the U.S. Department of Energy (DOE) to proceed into the term sheet negotiation phase under the DOE Loan Guarantee Program. The amount of the guarantee will be up to $2.579 billion, depending on the final project costs and capital structure.
Upon completion of due diligence and negotiations, the Taylorville project expects to receive a federal government guarantee of its debt, which will greatly reduce financing costs. Because TEC financing costs are included in electric rates under the recently enacted Illinois Clean Coal Portfolio Standard Law, the DOE loan guarantee results in savings of between $40 and $60 million per year to Illinois consumers.
“This is a very important step toward securing a clean coal facility in Taylorville. The federal loan guarantee would significantly reduce the cost of financing the construction of the facility,” said Attorney General Lisa Madigan. “That’s important because cost will be a critical factor when the General Assembly reviews this project next year.”
The DOE Loan Guarantee Program, instituted in the Energy Policy Act of 2005, is designed to spur technological innovation in fossil fuel energy development. It essentially gave the U.S. government the ability to back loans for advanced clean energy projects, thereby lowering financing costs.
If you want to read a load of crap:
Taylorville Energy Center
Taylorville Energy Center (TEC) is a proposed 500- to 525-megawatt clean coal power plant using an advanced technology called Hybrid Integrated Gasification Combined-Cycle (Hybrid IGCC) to make it the cleanest coal-fired power plant in the world.
Located a mile northeast of Taylorville in central Illinois, the plant will convert Illinois coal into clean substitute natural gas (also known as methane) to generate enough electricity to power more than 500,000 area homes.
The benefits of TEC include:
- • Millions saved annually on power costs
• Economic development for a job-starved region
• Creation of a new market for Illinois coal
• Protection of the environment and public
health through clean-coal technology
Taylorville Energy Center is being developed by Christian County Generation, LLC, a joint venture between affiliates of Tenaska, an Omaha, Nebraska-based power development company, and MDL Holding Co. of Louisville, Kentucky. Tenaska is managing developer of the Taylorville project. Since its inception 21 years ago, Tenaska has built more than 9,000 megawatts of power generation. Forbes magazine ranks Tenaska as the 24th largest private U.S. corporation, based on 2007 gross revenues.
And if you want to listen to a load of crap:
For 3 years they have planned, and talked, and schemed….