E.ON plans US$164m biomass plant in Bristol

Plans are in the works to construct a 150MW plant at the port of Bristol as part of E.ON's investment program in a range of power generating technologies.

The company recently came under fire for planning to build Great Britain's first new coal-fired power plant since well over 20 years. It also wants to expand nuclear capacity by adding at least two nuclear power stations. Now, E.ON intends to establish one of the country's largest biomass facilities. The plant would be located on the Royal Portbury Dock in Bristol's port and would be E.ON's third biomass facility in the UK.

 

Paul Golby, CEO of E.ON UK, opined that it can make a significant contribution towards the British government's renewable energy targets. "Schemes such as this, together with cleaner coal, gas and new nuclear, will help us to keep the UK's lights on, while reducing carbon emissions and ensuring energy is as affordable as possible for our customers," he said.

 

E.ON's investment program in Britain includes one of the world's largest gas-fired power stations, at the Isle of Grain in Kent, as well as the gas-fired plant at Drakelow in Derbyshire; an offshore wind farm in the Solway Firth and plans for the Humber Gateway wind farm. It is also a partner in the London Array wind farm and has invested in marine energy projects in Cornwall and Pembrokeshire.

 

According to the company, the proposed Bristol biomass power plant would provide enough electricity for 250,000 homes and CO2 emissions savings of 500,000 tons per annum. It will be fired mostly by wood chips, consuming some 1.2m tonnes of them per year. Residual heat would be supplied to nearby industries. If regulatory approval is obtained, construction could start in 2010 with the plant opening in 2013 and achieving full capacity in 2014.

HOW THE U.S. GOVERNMENT COULD MAKE YOU A FORTUNE - BEGINNING SEPTEMBER 15

Step 1: The U.S. Government has decided that Energy Speculators are our new enemy. And on September 15, they're going to declare war on this enemy in a very public way.

This declaration of war - and the actions that follow - will create an enormous profit opportunity for those investors like us who know what to do.

Step 2: Following the CTFC report to Capitol Hill on September 15, Congress will get involved in the energy markets in a BIG way - and that creates an enormous opportunity. In fact, we already know what's going to happen!

Immediately after the September 15 report, Congress will begin establishing tighter controls over the energy trading markets. And this over-regulation could have a significant impact on the energy markets. In fact, the potential exists for a HUGE spike in the price of oil.

Step 3: As it becomes apparent that regulating the speculators is having minimal impact - at best - on energy prices, the markets will begin to realize that we've entered a new era - an era in which alternative energy is no longer "alternative"... but necessary.

As this realization takes place, a decade-long bull market in "alternative" energy will get a tremendous kick-start. Those investors who are in before September 15 will position themselves for potentially life-altering profits.

Step 4: As if that kick-start weren't enough... Congress will give us another "green gift" before December 31 by extending the federal renewable energy investment tax credits.

The last time this happened - on December 18, 2007 - several solar companies enjoyed significant spikes in share price as a direct result of this action.

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The fact is...

With the world's largest oil fields being depleted--some by as much as 15% per year--and natural gas facing a similar long-term plight, our energy future lies in alternative energy sources.

South Korea to Pump US$103 Bln Into Renewable Energy

SOUTH KOREA: August 28, 2008

SEOUL - South Korea said on Wednesday it will spend 111.5 trillion won
(US$103 billion) through 2030 in developing new renewable energy, in
an effort to cut its reliance on fossil fuels and reduce carbon
dioxide (CO2) emissions.

The plan is part of the government's long-term energy strategy and
will come on top of other energy policies and overseas resource
development plans.

"(South Korea) will lower the portion of fossil energy to 61 percent
by 2030 from the current 83 percent, while bumping up the portion of
new renewable energy to 11 percent from 2.4 percent," the Ministry of
Knowledge Economy said in a statement.

Under the plan, capacity for solar, wind, bio and geothermal power
generation will be expanded.

The statement was issued after an energy committee meeting presided
over by President Lee Myung-bak.

Of the planned 111.5 trillion won, the private sector is expected to
account for 76.3 trillion won, it added, without elaborating further.

South Korea also plans to boost its energy self-sufficiency rate to 40
percent by 2030 from the current 4.2 percent.

South Korea is the world's 10th-largest energy consumer and the No. 5
crude oil importer.

Last month, data showed that its energy imports surged to account of
one-third of total imports in the first half of this year because of
soaring oil prices.

(US$1=1082.0 Won)

(Reporting by Kim Yeon-hee; Editing by William Hardy)

REUTERS NEWS SERVICE