Chinese power plant burns banknotes to generate power

A power plant in the Chinese city of Luoyang in the central Henan province burns used and worn banknotes instead of coal to generate electricity.

According to the power plant, one ton of banknotes is capable of generating over 600 kWh of electricity, and is more environmentally friendly than using coal.

The People’s Bank of China, the country’s central bank, has authorized the unusual energy source, and says it is an efficient way to generate electricity.

The old paper money gathered from the province “can help generate 1.32 million kWh of electricity annually, which is equal to burning 4,000 tons of coal,” a bank staff member told reporters.

China usually uses worn paper money to make paper products after they are withdrawn from circulation.

SRK/AS/MHB