Two new coal-fired power plants will be built in the Australian state of Victoria, as the state and federal governments invest millions of dollars into developing new uses for the fossil fuel resource.
An AU$ 50 million joint venture by the Victoria and federal governments will go towards funding two advanced coal projects, which will produce products such as oil and fertiliser from the state’s brown coal reserves.
Peter Ryan, deputy premier for the Victoria state government, said the venture would help the state develop further uses for coal, while boosting the economy in the Latrobe Valley. "This joint investment will enable the development of new smarter, cleaner and sustainable uses for this important resource," Ryan said.
Energy and Resources minister, Russell Northe, said the projects had the potential to bring significant employment and investment to the Latrobe Valley.
The AU$ 50 million will be split between energy firms Coal Energy Australia and Ignite Energy Resources.
Coal Energy Australia is set to receive AU$ 30 million in grant funding, under the state-commonwealth advanced lignite demonstration programme. The grant will be put towards the company’s AU$ 143 million demonstration plant that produces fertiliser, oil and coal used in steelmaking.
Ignite Energy Resources will receive AU$ 20 million for its AU$ 84.3 million pre-commercial plant that makes upgraded coal products for local or export markets, along with synthetic oil.
Edited from various sources by Sam Dodson
Read the article online at: https://www.worldcoal.com/power/16052014/two_new_australian_coal_plants_in_the_pipeline_852/