ETI seeks partners to develop an investable concept for major new power generation capacity with Carbon Capture and Storage
25/08/2015 Energy Technologies Institute (ETI)
ETI will invest up to £2m in a project which will take early advantage of new CCS infrastructure and help to deliver momentum into the next phase of CCS sector development. Business focus of the project will be on providing investable, low-risk, low-cost, low-carbon power, supported by a Contract for Difference (CfD).Following the interest generated by the launch of its request for proposals on 28th June and comments received from potential bidders, they have decided to extend the deadlines. The deadline for notification of intention to submit proposals will now be 4th September 2015. The request for proposals will now close on 12th October 2015. Additional confidential briefing sessions will be made available for potential bidders in mid September.
The Thermal Power with CCS project will develop the business case of providing investable, low cost, low carbon power supported by a Contract for Difference (CfD). It is designed to take early advantage of the new CCS infrastructure being built and deliver momentum into the next phase of CCS sector development. Analysis carried out on behalf of the ETI by Pöyry and AECOM has identified that key features are likely to include:
-€¢ Sharing existing transport and storage assets to reduce cost, complexity, schedule and scope;
-€¢ Low planning cost, time and risk, e.g. already-consented sites, based near pipeline infrastructure;
-€¢ Use of 'best proven' technologies, balancing cost against investor risk premium;
-€¢ Rapid, low risk project delivery;
-€¢ Risk-sharing, by attracting multiple investors in a co-venturing model;
-€¢ Business models with a clear allocation of risk along the CCS chain.
The ETI will invest up to £2m in the project which will identify the technical and commercial foundations and create the business case for a specific Phase 2 CCS project.
For more information, please contact:
Energy Technologies Institute (ETI)
Holywell Building
Holywell Way
Loughborough
LE11 3UZ
Tel: +44 (0)1509 202020
Email: info@eti.co.uk
Web: www.eti.co.uk
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