BP, Equinor GBP4 Billion Carbon Capture Project Approved in UK

(Alliance News) - A GBP4 billion project to build an industrial-scale carbon capture, utilisation, and storage facility in North East England has been approved by the UK government. Work on the Net Zero Teesside project, led by BP PLC and Equinor ASA, is set to start by the end of this year with operations expected to begin in 2027.

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The proposed power station will generate up to 860 megawatts of low-carbon electricity – enough to power up to 1.3 million UK homes, according to South Tees Development Corp. Up to two million tonnes of CO2 emissions from the power station will be captured each year – emissions which would otherwise be released into the atmosphere.

Tees Valley Mayor Ben Houchen, who hopes Teesside can become a global leader for green energy, described it as "a monumental day," and Chris Musgrave, chairman of the Teesworks industrial zone, said it is "fantastic news" that could bring jobs and investment to the region.

The captured CO2 will be transported by the Northern Endurance Partnership by pipeline to a geological site under the North Sea, where it will be permanently stored.

Houchen said the NZT project "will provide power to 1.3 million homes, help with energy security, but more importantly it will give generational job opportunities to local people" as the Teesworks area provides investment, training, and local jobs.

He said d has already transformed the site and secured billions of pounds of private investment, adding: "Teesside is no longer seen as an old industrial heartland in decline – we are now a global player leading the world once again and I'm delighted to deliver another promise as mayor.

"This is a day that we look back on as the start of a golden generation for Teesside."

The aim is for projects at Teesworks over the next decade to help boost local revenues, with income from business rates expected to increase by GBP79 million annually once large-scale projects become fully operational, according to the corporation.

Dynamic battery storage, sustainable aviation fuels, and hydrogen fuel production could be among the clean energy projects.

Musgrave added: "Over the past few years, we've been clearing the former steelworks and preparing the site for projects like this. It's a huge step towards a greener future for us all, and I'm proud that the Teesworks site will be at the heart of it."

Source: PA