Britain’s Drax suspends $2.5 billion biomass carbon capture plans | – #Britains #Drax #suspends #billion #biomass #carbon #capture #plans
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March 21 (Reuters) – Britain power generator Drax ( DRX.L ) plans 2 plans for bioenergy with carbon capture and storage (BECCS) pending more clarity on government support billion £2.45 billion dollars) Great Britain will stop his investment. Tuesday.
Drax, the Great Britain welcomed his government’s recent budget support for carbon capture and storage (CCS), but said the company needed a firm commitment to BECCS before investing cash to install the technology at a 2.6 gigawatt biomass power plant in Yorkshire, north England.
Drax CEO Will Gardiner said: “Pending this clarity, we are suspending our multi-million dollar investment program in the UK’s BECCS project.”
Gardiner called on the government to show its support for an announcement planned for later this month on measures to support energy security.
Britain’s climate change advisers said this month that the technology could be needed for plans to reduce electricity sector emissions as part of the country’s efforts to meet its climate target of net zero emissions by 2050.
Other countries are also interested in building BECCS plants, and Drach says ministers from Poland, officials and academics from Indonesia, and bipartisan USA A ministerial visit was organized for the delegation of senators.
USA85 for every ton of greenhouse gas saved using the Inflation Reduction Act (IRA) BECCS. dollars offer does, and England has not yet created a market mechanism for the technology.
The current subsidy scheme for biomass plants, which provide about 6% of the country’s electricity, expires in 2027, which could make them unviable, a Drax spokesman said.
Drax is developing technology to capture and store emissions from burning wood-based biomass pellets.
Green groups have strongly criticized the practice, arguing that it is not a carbon-neutral energy production method and that pellet production can contribute to deforestation.
Drax says he’s only whitehungry uses residues or by-products from trees used primarily for timber, and demand for wood from sustainably managed forests Forest can help increase growth.
($1 = £0.8162)
Reporting by Nora Buli and Susanna Twidale Editing by Susan Fenton and David Goodman
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2023-03-21 19:33:55
Source – reuters
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