CarbonNet is the second project selected for funding under the Australian Government’s CCS Flagships Program, which will provide $70m towards the initiative. The remaining $30m will come from the Victorian government.
The state-led $1 billion CCS project aims to capture between 4 and 10 million tonnes per annum of CO2 from power plants, industrial processes and new coal-based industries in the Latrobe Valley. The captured gas would be transported via a shared infrastructure to suitable on and offshore geological storage sites.
The overall aim of the project is to demonstrate low emission brown coal electricity generation in the region.
Martin Ferguson, Minister for Resources and Energy, said the initiative would enable Latrobe Valley to cut its emissions while securing its economic development.
He said: “The economic base of the Latrobe Valley depends on brown coal and, while the government is committed to cutting CO2 emissions, the last thing we want to do is cut jobs in the process. Projects like CarbonNet will help shape a new economic future for this critical region.”
Victorian Minister for Energy and Resources, Michael O’Brien MP, added: “The Victorian coalition government is committed to energy security, and jobs in the Latrobe Valley. CarbonNet supports both by promoting low emission use of Victoria’s world-class brown coal resource.”
Last month, the CCS project was awarded A$240,000 by the Global CCS Institute towards conducting a measuring, monitoring, and verification study of stored emissions. The government funding will support feasibility work, including modelling and testing of potential CO2 storage sites.
Latrobe Valley already hosts a CCS research hub, led by Australian research agency CO2CRC, which is exploring commercially-viable methods for reducing CO2 emissions at brown coal-fired power plants.
Read the Australian Government’s press release here.
About CarbonNet
