Ameren drops out of Future Gen clean coal project

The FutureGen Alliance is negotiating an option to purchase portions of the Meredosia Energy Center from Ameren Energy Resources Co. LLC, the holding company for Ameren Corp (NYSE: AEE). Ameren Energy Resources said it would not continue its cooperative agreement beyond 2011, but said it would continue environmental permitting assistance and to maintain the power plant unit needed for the FutureGen 2.0 clean coal project in Illinois. FutureGen will also prepare an application requesting that the U.S. Department of Energy (DOE) approve the Alliance’s takeover of Ameren’s cooperative agreement with DOE. The project is expected to cost $1.65 billion, with $1.1 billion to repower the Meredosia Unit 4 and $550 million for the carbon dioxide (CO2) pipeline and storage site. Nov 28, 2011