Business Week:

Duke Energy Co. received approval Tuesday from Indiana utility regulators to build a $2 billion coal-burning power plant using technology that could eventually allow the plant’s global warming emissions to be captured and stored underground.

As part of the order from the Indiana Utility Regulatory Commission, Duke will shut the state’s oldest coal-burning plant and build a new 630-megawatt unit with so-called integrated gasification combined cycle, or IGCC, technology, which transforms coal into a synthetic gas before running it through generation turbines. The process allows carbon dioxide, the main global warming gas, to be captured before it’s released into the atmosphere.