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US Senator announces bill to make federal loan guarantees available to HELE coal plants

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World Coal,

Senator Todd Young of Indiana, US, yesterday announced a bill, S. 3653, the Reinvigorating American Energy Infrastructure Act, that would make available federal loan guarantees for high efficiency, low emissions (HELE) coal plants.

Two types of advanced coal units would be eligible for loan guarantees under the bill: units larger than 300 MW and modular units smaller than 300 MW. Loan guarantees for modular units would complement efforts by the Department of Energy (DOE) to develop and demonstrate modular designs for coal units that increase efficiency, lower CO2 emissions, minimise construction costs, and shorten project development time.

To be eligible, both types of HELE units must be designed to achieve an efficiency of at least 40% and be capable of accommodating carbon capture and storage technology in the future.

Michelle Bloodworth, President and CEO of America’s Power, said: “Having a coal fleet is essential to ensuring that our nation’s electricity grid is reliable and resilient. Senator Young’s bill is an important step toward deploying the next generation of advanced coal plants to replace the coal plants that are retiring. This new generation will meet strict environmental standards and result in CO2 emissions 25% to 40% lower than the coal fleet today. We commend Senator Young for his leadership and look forward to explaining the importance of the coal fleet to the Members of the 116th Congress.”

40% of the US coal fleet has either retired or announced plans to retire.

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US coal news HELE coal news