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Stakeholder Views on Financing Carbon Capture and Storage Demonstration Projects in China.
MedLine Citation:
PMID:  22191735     Owner:  NLM     Status:  Publisher    
Abstract/OtherAbstract:
131 Chinese stakeholders from 68 key institutions in 27 provinces were consulted in spring 2009 in an online survey of their perceptions of the barriers and opportunities in financing large-scale carbon dioxide capture and storage (CCS) demonstration projects in China. The online survey was supplemented by 31 follow-up face-to-face interviews. The National Development and Reform Commission (NDRC) was widely perceived as the most important institution in authorizing the first commercial scale CCS demonstration project and authorization was viewed as more similar to that for a power project than a chemicals project. There were disagreements, however, on the appropriate size for a demonstration plant, the type of capture and the type of storage. Most stakeholders believed that the international image of the Chinese Government could benefit from demonstrating commercial CCS and that such a project could also create advantages for Chinese companies investing in CCS technologies. In more detailed interviews with 16 financial officials, we found striking disagreements over the perceived risks of demonstrating CCS. The rate of return seen as appropriate for financing demonstration projects was split between stakeholders from development banks (who supported a rate of 5%-8%) and those from commercial banks (12%-20%). The divergence on rate alone could result in as much as a 40% difference in the cost of CO2 abatement and 56% higher levelized cost of electricity based on a hypothetical case study of a typical 600 MW new build ultra-supercritical pulverized coal-fired (USCPC) power plant. To finance the extra operational costs, there were sharp divisions over which institutions should bear the brunt of financing although overall, more than half of the support was expected to come from foreign and Chinese governments.
Authors:
David Michael Reiner; Xi Liang
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Publication Detail:
Type:  JOURNAL ARTICLE     Date:  2011-12-9
Journal Detail:
Title:  Environmental science & technology     Volume:  -     ISSN:  1520-5851     ISO Abbreviation:  -     Publication Date:  2011 Dec 
Date Detail:
Created Date:  2011-12-23     Completed Date:  -     Revised Date:  -    
Medline Journal Info:
Nlm Unique ID:  0213155     Medline TA:  Environ Sci Technol     Country:  -    
Other Details:
Languages:  ENG     Pagination:  -     Citation Subset:  -    
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