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Dominion Energy to invest $300m in China to boost energy generation in UK

Energy giants Dominion Energy and Chinese state-owned power utility Xinhua have announced plans to invest up to $300 million to build a new coal-fired power plant in China.

The two companies said they would also build an additional coal-powered plant at the Tianjin Port, which has become a major focus of the UK government’s push to increase domestic coal consumption.

China’s state-run Xinhua news agency reported that the two companies, which are jointly owned by the state-controlled Xinhua Group, would build a large-scale coal plant at Tianjin, which will be the world’s third-largest coal-burning port after Shanghai and Guangzhou.

Xinhua, which is the world leader in news and information technology, is currently working on plans to build its largest coal-fueled plant in the world, a 730-megawatt (MWh) power plant at Jinan, in Xinjiang province.

In July, the UK announced plans for a new $4.4bn (£3.6bn) coal power station in the south of England, to be built in partnership with China’s state company, CGN Energy.

The UK plans to open up the world market for coal-based energy, which it hopes will reduce the UK’s reliance on imported oil and gas and enable it to increase the country’s renewable energy output.

The new power station will be connected to the existing power grid via a network of solar panels and wind turbines.

Dominion Energy, which operates the biggest natural gas plant in Europe, said the new coal power plant would “provide a strong economic stimulus for the UK”.

Dominion said it was also investing $1.5bn in the UK to support the development of a new “smart” power generation technology.

The company said it would also be investing in a new plant to supply electricity to its new coal plant, which the company said was designed to reduce CO2 emissions by 50 per cent.

The US energy giant Exelon said it had agreed to invest a further $250m to build two new coal plants in China in 2018.

Exelon has announced plans in the US for three new coal fired power stations.