Deputy Prime Minister Nick Clegg and Energy Secretary Ed Davey have announced a ground-breaking deal with Shell which could generate enough clean energy to power half a million homes, and capture 1 million tonnes of CO2 each year.
This revolutionary multi-million pound project is the first of its kind in the world. The signing of the deal is for the first stage of a project to retrofit the Peterhead gas-fired power plant with carbon capture and storage technology.
The Peterhead project is the second of 2 projects to be funded under the UK’s CCS competition marking a significant milestone for the programme. Over the next 2 years, the Government is investing around £100 million from its £1 billion CCS budget, with additional industry investment, to plan, design and engineer the UK’s first 2 CCS projects.