As reported by the Press Association, the Government has claimed that the UK’s carbon capture and storage – CCS, sector will be able to sustain 100,000 jobs by 2030 and also generate up to £6.5 billion a year. This came at the unveiling of a new strategy to encourage the growth of CCS, with Energy Secretary Ed Miliband announcing that it represents a “massive industrial growth opportunity”.

In addition, the Government has taken the opportunity to announce that Yorkshire and Humber has been chosen as the UK’s first low carbon economic area for CCS – Primarily because it combines the UK’s biggest bunch of industrial CO2 emitters alongside academic expertise and proximity to potential storage sites.

Announcing the new plan, the Energy Secretary stated:

“CCS presents a massive growth opportunity for the UK. We have a strong, established and skilled workforce in precisely the sectors needed to get CCS deployed at scale. And we have some of the best potential sites in Europe for CO2 storage under the North Sea”

The launch of the strategy follows the news last week that two power companies received funding to develop designs for power plants with CCS technology. ScottishPower and E.ON are now competing for Government backing to build the UK’s first CCS coal-fired power plant at Longannet, Clackmannanshire in Scotland or Kingsnorth in Kent.

See http://www.utility-exchange.co.uk/2010/03/decc-announces-ccs-competition-next-round-winners/ for related Business Energy News.

Source: news@newenergyfinance

This renewable energy story was brought to you by Utility Exchange. Saving Time, Money and Energy for your Business