Investment in projects to reach 拢100m as government backs Peterhead scheme
The government has announced it will fund the next stage of planning to develop a commercial-scale carbon capture and storage plant at Peterhead gas power station in Aberdeenshire.
The government is investing 拢100m in carbon capture and storage (CCS) projects at Peterhead and White Rose power stations as part of a 拢1bn drive to commercialise the technology.
According to government figures, CCS power stations could provide 20% of the UK鈥檚 power by 2050 and save 拢30bn a year in meeting the UK鈥檚 carbon emission reduction targets.
Yesterday, energy secretary Ed Davey announced the government would fund detailed engineering design and financial planning to bring the Peterhead project to a point where a final investment decision could be made.
He said: 鈥淏ritain will still need large amounts of oil and gas, even as we cut our carbon emissions over the coming decades鈥� This project envisions a cleaner, greener future for the North Sea and will support thousands of green jobs.鈥�
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