Investment firm 8 Rivers Capital LLC has unveiled plans to build what could be the first pair of net-zero natural gas-fired power plants in the world.

One facility would be in Decatur, IL, with a second on the Southern Ute Indian Reservation in Colorado. Each would generate 280 MW.

The announcements follow plans by utilities, cities and states to lower their carbon footprints in a bid to combat climate change.  8 Rivers Principal Adam Goff said the Coyote Clean Power Project in Colorado would market power to a number of different municipalities and other entities on and off the reservation.

“I think these are the first of a wave,” Goff told NGI. The Durham, NC-based firm has about a dozen similar projects in various stages of development. “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 the net-zero power plants, amounting to a $1 billion investment combined, could be sanctioned in 2022, with start-up as early as 2025. The facilities would use technology provided by 8 Rivers portfolio company Net Power LLC. The technology combusts gas with oxygen instead of air and uses carbon dioxide (CO2) to drive turbines instead of steam. 8 Rivers claims the technology eliminates all air emissions, including CO2 that can be sequestered.

Broadwing, the proposed Illinois facility, is being pursued with Chicago-based partner Archer-Daniels-Midland Co. (ADM). Warwick Capital Partners LLP is providing development financing through its Warwick Carbon Solutions investment vehicle. Broadwing would store captured carbon a mile and a half underground via ADM’s carbon capture and storage system.

The Coyote project is being developed in partnership with the Southern Ute Indian Tribe Growth Fund. Financing decisions are ongoing and the project sponsors are targeting 2022 for a final investment decision, Goff said. The Southern Ute has previously pursued projects that include a methane capture facility and a utility-scale solar project.

Goff said the project sponsors were engaged in an “active process” with potential suppliers to ensure the plant’s feedstock would comply with the net-zero mandate.

“The Southern Ute Growth Fund has a lot of experience with sourcing gas,” he said. “And so we’re really lucky to have them as partners, particularly in delivering a lot of expertise on the gas supply side to make sure it’s done responsibly.”

Goff added that the project sponsors are looking at “all our options,” including nature-based carbon offsets, to keep the emissions profile as low as possible.