Longview is on track to become one of the cleanest, most efficient and most technically advanced coal-fired power plants in the United States. The $2-billion project includes a $500-million investment in sophisticated environmental control systems. Longview Power is owned by Longview Power, LLC, which is in turn majority-owned by GenPower Holdings, L.P.
"GenPower is excited to participate in the advancement of technologies that further our commitment to the development of clean energy resources. We see strong potential for the Siemens post-combustion carbon capture system to advance our clean energy goals," stated Bob Place, CEO of GenPower Holdings, L.P.
According to the U.S. Department of Energy's Energy Information Administration (EIA), the amount of CO2 produced from the combustion of fossil fuels in the United States is nearly 5.7 billion metric tons with approximately 33 percent coming from the coal-fired electric power sector. Climate change legislation pending in the U.S. Congress may require a reduction in CO2 emissions from coal-fired power plants. The successful completion of the Siemens POSTCAP feasibility study for Longview can help establish the necessary parameters to allow a demonstration plant to be realized.
"With the results of the study and the support of government funding, we hope to expand upon this agreement and eventually design and install a post-combustion plant demonstration unit," stated Randy Zwirn, CEO of Siemens Energy's Service Division. "The United States will need a diverse mix of environmentally compatible sources of power to meet future needs for a clean, sustainable energy supply, and post-combustion CO2 capture can help meet our nation's ever increasing energy requirements, using the coal resources that are indigenous to the U.S."
Post-combustion CO2 capture technology is part of Siemens' Environmental Portfolio. In fiscal 2009, revenue from the Portfolio totaled approximately EUR23 billion, making Siemens the world's largest supplier of environmentally friendly technologies. In the same period, the company's products and solutions enabled customers to reduce their CO2 emissions by 210 million tons. This amount equals the combined annual CO2 emissions of New York, Tokyo, London and Berlin.
GenPower Holdings, L.P. is a joint venture of GenPower management and First Reserve, a leading global private equity firm. The joint venture was formed in October 2006 to pursue the development, acquisition, and operation of power generation facilities in the United States and abroad. Longview Power is the first major investment by the joint venture. GenPower's management team includes power industry veterans who have extensive experience in power project development, finance, construction and operations. For more information on GenPower Holdings and Longview Power, please visit our websites at www.genpower.net and www.longviewpower.com.
The Siemens Energy Sector is the world's leading supplier of a complete spectrum of products, services and solutions for the generation, transmission and distribution of power and for the extraction, conversion and transport of oil and gas. In fiscal 2009 (ended September 30), the Energy Sector had revenues of approximately EUR25.8 billion and received new orders totaling approximately EUR30 billion and posted a profit of EUR3.3 billion. On September 30, 2009, the Energy Sector had a work force of approximately 85,100. Further information is available at: www.siemens.com/energy.
SOURCE Siemens Energy
Longview Power, LLC
GenPower Holdings, L.P.
Cathleen Williamson, Longview Power
Phone: +1-603-431-0816 or +1-617-435-5505 (cell)
Monika Wood, Siemens Energy, Inc.