8 Rivers Proposes First Ever Net-Zero Natural Gas Power Plant

8 Rivers Capital LLC, the investment firm, has unveiled the plans to build the first pair of net-zero natural gas-fired power plants in the world. One of the facilities would be made in Decatur, IL, and a second one on the Southern Ute Indian Reservation in Colorado. Each of these plants would generate 280 MW.

As utilities, states and cities make announcements to lower their carbon footprints fired this project. 8 Rivers Principal Adam Goff said that the Coyote Power Project in Colorado would market the power to many different municipalities. Goff told NGI, “I think these are the first of a wave. And as the world moves to cut emissions and reach net zero by 2050, we see huge demand in the U.S. and around the world.”

Both of these net-zero power plants amount to a $1 billion investment combined. The plants could be sanctioned in 2022 and start as early as 2025. The facilities would use the technology provided by 8 Rivers portfolio company Net Power LLC. The technology combusts gas along with oxygen instead of air and uses carbon dioxide to drive the turbines instead of steam.

The company claims that the technology eliminates air emissions including CO2. Broadwing is the proposed Illinois facility which is being pursued with Chicago-based partner Archer Daniels Midland Co. Warwick Capital Partners LLP is providing the development financing through the Warwick Carbon Solutions investment vehicles. It would store captured carbon which is one and a half-mile underground via ADM’s carbon capture system.