"Energy Dept. Commits $1 Billion to FutureGen"

"CHAMPAIGN, Ill. – The U.S. Department of Energy on Tuesday said it has formally committed $1 billion in federal stimulus money to the recently retooled FutureGen clean-coal project, beating a deadline to use the money or lose it and kicking off years of further work that could finally see the project completed.

One of the companies involved, Ameren Corp., said the $1.2 billion project — which will include some private funding — still has a number of hurdles to clear.

The Energy Department said in a news release that it has signed new deals with the FutureGen Alliance — coal companies and other business it worked with on the project for years — and with Ameren. The department has said the money needed to be committed by Sept. 30 or it would be lost."

David Mercer reports for the Associated Press September 29, 2010.

Wednesday, September 29, 2010