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Chinese city burning money to generate electricity

A power plant in Luoyang, Henan in China is generating power through the burning of bank notes.

Xinhua news agency reports that the plant is burning old and damaged banknotes insteChinese yen on firead of its usual coal-fired power. The plant says one tonne of notes can generate more than 600 kWh of electricity, and is better for the environment than burning coal.

The country’s central bank, the People’s Bank of China, has given permission for the notes to be burned, and says it’s an efficient way to make electricity. With the province’s unused paper money the company “can help generate 1.32 million kWh of electricity annually, which is equal to burning 4000 tonnes of coal”, a member of staff at the bank told Xinhua.

Banknotes which are withdrawn from circulation in China after being worn out by handling or other damage are most commonly used to make paper products, according to the Dahe Daily news website.