ECTOR COUNTY, TX (KWES) - The Texas Clean Energy Project is one step closer to becoming a reality.
Summit Power Group signed a contract in Beijing, China, with two different companies
China Huanqui Contracting & Engineering and SNC-Lavalin Engineers and Constructors will help Summit develop and construct the project in Penwell.
Summit says the cost of the project went up drastically in 2013 because of increasing labor costs with the oil boom.
But with the help of these two companies, it helped bring the cost back down.
The financial closing for the project is expected in the Spring of 2016.
The plant would break down the coal's chemical parts, then take out harmful ones like carbon dioxide.
The coal would then be burned to make energy, but it's emissions are clean.
90 percent of the carbon dioxide that's taken out will be captured, then sold to oil companies for enhanced oil recovery.
It's expected to bring in around 2,000 construction jobs.