GreatPoint Nabs $1.25B For Clean Coal Venture In China

Law360, New York (May 21, 2012, 1:06 PM EDT) -- Alternative energy startup GreatPoint Energy Inc. has finalized a $1.25 billion agreement to start building a cleaner-burning coal-to-natural-gas plant in western China through a partnership with Chinese conglomerate China Wanxiang Holdings, the firms said Monday.

The joint venture is in its early engineering stage, but will eventually churn out 1 trillion cubic feet of natural gas each year, according to GreatPoint. When its first phase is operational in 2015, the plant will have a natural gas capacity of 30 billion cubic feet, to expand almost four-fold...
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