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billion coal-fueled, near-zero emissions experimental power plantin Mattoon, Ill., is movinb forward with the preliminary backing of the and the allocatio n of $1 billion in stimulus money. , comprisedf 11 member companies, includin g , and President Barack Obama’ds Energy Secretary, Steven Chu, have signed an agreement to restart plans for preliminarhdesign activities, final cost estimate analysis and funding for the plant, whichj stalled under the Bush administration. Then the energty department will make a final decisio around the first of next year on whether to start constructiomn of the projectin Mattoon, about 150 milees northeast of St. Louis.
The DOE is expectee to pay for the six monthss of studies but a cost estimate for thestudies wasn’tt available. “We’re back in business,” Sen. Dick Durbin, told reporters on a conference “A year and a half ago, this projectg was finished under theold administration.” Durbinn to include $1 billion in the federal stimuluse package that could help pay for the He said he also securerd another $100 million in appropriations funding. The rest of the project’s pricee tag will come from private fundingb fromthe alliance’s member companies. The totao of 11 members is smalle than the 13 that had supported the plantbut St.
Louis-basedd Peabody is still involved. The $2.4 billion cost estimat Durbin used Friday is Itincludesa $1.7 billion to $1.9 billion in construction costs and $500 to $700 millio n in operating costs. FutureGen would creatw an
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