This multi-million pound revolutionary project is unprecedented globally. Following the signing of the agreement, the UK will begin retrofitting the Peterhead gas-fired power station in Aberdeenshire, Scotland, with carbon capture and storage equipment.
The Peterhead gas-fired power station project is the second of two projects funded by the UK's Carbon Capture and Storage (CCS) competition and represents a significant milestone for the competition. Over the next two years, the UK government will allocate approximately £100 million from its £1 billion budget (1 GBP is approximately 10.14 CNY, same below) earmarked for carbon capture and storage projects, combined with other industry investments, to plan, design, and construct these two UK carbon capture and storage projects.
The Peterhead gas-fired power station project and the White Rose carbon capture and storage project in Yorkshire, UK, will create 2,000 construction, technical, and operational jobs for the UK.
The Peterhead gas-fired power station will become the world's first gas-fired power station capable of capturing carbon at an industrial scale and transporting it via pipeline for safe storage under the sea, meaning the energy it produces in the future will be clean energy.
Clegg stated: "The innovation of the UK energy industry is something we can be proud of. We are world leaders in carbon capture and storage technology, which is the best reflection of the UK's creativity." He also added that this multi-million pound agreement will provide thousands of jobs and supply clean electricity to 500,000 households. "This demonstrates that we can grow a prosperous economy while protecting the environment for future generations."
The Peterhead gas-fired power station project is the world's first large-scale carbon capture and storage project at a gas-fired power station, marking a major milestone in the development of this technology. This project will maximize the use of existing facilities and utilize depleted gas fields offshore to store carbon dioxide.
The Peterhead gas-fired power station can capture and store up to 90% of the carbon emissions produced by one of its three turbines, which can clean up North Sea gas feedstocks and provide low-carbon electricity to UK homes and businesses.
