Sunday 21 June 2015

£2m CCS project seeks co-venturers

Up to £2m is to be invested for a new power generation capacity with Carbon Capture and Storage (CCS).

The Energy Technologies Institute (ETI) is looking for a co-venturer for early stage development of a 'Thermal Power-with-CCS' scheme.

The project aims to take early advantage of new CCS infrastructure being built and encourage the next phase of CCS sector development.

The ETI wants investable, low cost, low carbon power scheme supported by a Contract for Difference (CfD).

The company wants the new technology to reduce costs and complexity.

Andrew Green, ETI CCS Programme Manager said: “Our analysis of the UK energy system clearly identifies the strategic importance of timely development of a sizeable CCS sector.

“Although initial CCS demonstration projects would require a high strike price, we believe costs will fall rapidly to below £100 per MWh for follow on projects as a result of sharing infrastructure, economies of scale, engineering learning and greater confidence from investors.”