Publications

    Rosenberg, William, Dwight Alpern, and Michael Walker. “Financing IGCC - 3 Party Covenant.” In, 2004. Publisher's VersionAbstract
    This paper describes a 3 Party Covenant financing and regulatory program aimed at reducing financing costs and providing a risk-tolerant investment structure to stimulate initial deployment of five to ten Integrated Gasification Combined Cycle (IGCC) coal generation power plants during this decade. The 3 Party Covenant is an arrangement between the federal government, state Public Utility Commission (PUC), and equity investor that serves to lower IGCC cost of capital by reducing the cost of debt, raising the debt/equity ratio, and minimizing construction financing costs. The 3 Party Covenant would reduce the cost of capital component of energy costs from new IGCC facilities by 34 percent and the overall cost of energy about 20 percent, making the technology cost competitive with pulverized coal (PC) and natural gas combined cycle (NGCC) generation.
    School, Harvard Kennedy. “Workshop on Integrated Gasification Combined Cycle: Financing and Deploying IGCC Technology in this Decade.” In, 2004.Abstract

    Concerns about high natural gas prices, environmental emissions, economic growth and future coal production have catalyzed a growing interest in developing and deploying advanced coal gasification technologies both in the United States and abroad. On February 11, 2004, two of the Kennedy School’s centers, the Belfer Center for Science and International Affairs and the Center for Business and Government, sponsored a workshop on the political and financial challenges to the deployment and commercialization of these technologies. The purpose of the workshop was to identify issues that require additional scrutiny and to build a policy foundation for the commercialization of Integrated Gasification Combined Cycle (IGCC) technologies for power production. Additional sponsors included the Environmental Protection Agency, the U.S. Department of Energy’s National Energy Technology Laboratory, the Center for Clean Air Policy, and the National Commission on Energy Policy.

    Rosenberg, William. “Workshop on Integrated Gasification Combined Cycle: Financing and Deploying IGCC Technology in this Decade,” 2004. Publisher's VersionAbstract

    Concerns about high natural gas prices, environmental emissions, economic growth and future coal production have catalyzed a growing interest in developing and deploying advanced coal gasification technologies both in the United States and abroad. On February 11, 2004, two of the Kennedy School’s centers, the Belfer Center for Science and International Affairs and the Center for Business and Government, sponsored a workshop on the political and financial challenges to the deployment and commercialization of these technologies. The purpose of the workshop was to identify issues that require additional scrutiny and to build a policy foundation for the commercialization of Integrated Gasification Combined Cycle (IGCC) technologies for power production. Additional sponsors included the Environmental Protection Agency, the U.S. Department of Energy’s National Energy Technology Laboratory, the Center for Clean Air Policy, and the National Commission on Energy Policy.

    Attendees included senior officials from the energy industries, state regulators, federal officials, senior members of the NGO community and several experts from academia. This report summarizes the major issues and arguments put forth in each of the three panel discussions, a keynote presentation, and a luncheon speech. Since all statements made at the workshop are off-the-record, none of the remarks are directly attributed to any participant. This report is a general summary and does not cover all the issues discussed, but rather focuses on those of the greatest significance or greatest controversy. The arguments and positions described in this report do not necessarily reflect those of the John F. Kennedy School, the workshop sponsors, or any individual participant at the workshop.