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Samsung, 2CO sign landmark deal to build CCS facility

The world seems to be rushing to devise ways to minimize the impact of fossil fuel-based energy production. The latest to get into the game is Hatfield Colliery for its Don Valley Power project. Situated in South Yorkshire, England, the colliery is run by 2CO. Together with South Korean technology giant, Samsung, the company is proposing to build a clean coal power station at a cost of 3 billion pounds. The landmark deal was finalized after Samsung signed up.

Landmark deal struck in bid to build £3bn clean coal power station in borough

As per the agreement, the technology company will have a 15 percent stake in the power project. 2CO’s chief executive, Lewis Gillies, said that the tie-up gave fillip to the United Kingdom’s potential as a leader in clean coal technology. An isometric image of the project shows the building plan for the carbon capture and storage facility.

Coal plants have for long been used to drive industries. While alternative energy has the potential to change the way we use resources, coal is still widely depended on. The biggest drawback to fossil fuel use is the negative impact it has on the atmosphere and the environment as a whole. As such, CCS facilities exist to extract carbon emissions from the source of origin and store it where it won’t cause harm to residents, the land and the atmosphere.

Carbon capture and storage is an expensive and extensive process and requires massive funds. The going can be tough but the rewards can be great. Hence, such deals like the one struck between Samsung and 2CO are necessary. As it is, 2CO is still seeking additional funds from the United Kingdom and the European Union.

The Don Valley project, which is expected to being construction in 2013, will see the facility capturing carbon emissions and transporting them via pipelines to North Sea oil fields. It will also generate low carbon electricity to a million homes in the country by 2016.

Via: Doncasterfreepress

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