Net Zero Teesside

Incredibly pleased to announce that NZT Power has been selected as part of the Track 1 Negotiations Project List by Department for Energy Security and Net Zero. NZT Power takes another step forward to help support the government’s commitment to fully decarbonize the power system in the UK by 2035 and will enable greater deployment of renewable energy by providing flexible and dispatchable low carbon electricity generation. The project will help support the government’s commitment to accelerate its decarbonisation ambitions, realise economic benefits across the East Coast of England, kick start the hydrogen economy and place the UK on a path to decarbonising our power system by 2035, while maintaining security of supply. Read our press release here: https://bit.ly/3K0Dnrc

Today, the Carbon Capture and Storage Association has published CCUS Voices, a report bringing together insights from experts into the challenges of scaling CCUS, and setting out the ambitions of the industry for transitioning the technology from concept to large-scale reality. Access the full report here: https://shorturl.at/veqTZ

I’m delighted to see that another key milestone has been reached as Teesside continues to lead the way for the UK to reach its net zero aim 🌍   Net Zero Teesside (NZT Power) and the Northern Endurance Partnership (NEP) have selected contractors for their engineering, procurement, and construction contracts worth around £4 billion 🏗   This huge investment will help NZT Power in its aim to be one of the world’s first commercial scale gas-fired power stations with carbon capture, as well as back NEP to help build the CO2 transportation and storage infrastructure to serve East Coast Cluster carbon capture projects.   This is brilliant news for businesses and supply chains in the North East of England as the project moves closer to final investment decision this year. Watch this space 👀

“The UK’s Industrial Clusters are a critical component in decarbonising to achieve our net zero ambitions. With the CBI and ECIU work revealing that the green growth economy grew by 9% in 2023, it is hugely encouraging to see the momentum behind the Teesside cluster’s net zero plans with the awarding of £4Bn of contracts associated with greening power production and capturing CO2 in the East Coast Cluster.” - CBI (Confederation of British Industry)'s John Foster.

"Today, Net Zero Teesside Power (NZT Power) and the Northern Endurance Partnership (NEP) have announced that they have selected contractors for EPC contracts with a combined value of around £4bn”. The selection is a major milestone which would contribute to the UK’s journey towards net zero emissions by 2050.     The final award of contracts is subject to the receipt of relevant regulatory clearances and positive Final Investment Decisions (FID) by the projects and UK government, planned for September 2024 or earlier. 

The planned NZT Power project, which aims to be one of the world's first commercial scale gas-fired power stations with carbon capture, took another step forward after receiving development consent. Consent was granted following a joint application between NZT Power and the Northern Endurance Partnership. The project, enabled by the NEP, includes a CO2 gathering network on Teesside to transport captured CO2 from industrial emitters; a CO2 gathering/booster station to receive the captured CO2 from the gathering network and from NZT Power; and the onshore section of a CO2 transport pipeline for the onward transport of the captured Net CO2 to the offshore Endurance store. Read more here: https://lnkd.in/eGzXxqeA

The NZT Power project is expected to provide dispatchable low-carbon electricity sufficient for around 1.3 million homes, which is nearly 5% of all homes in the UK, and will enhance the deployment of carbon capture technology. At NZT Power, we continuously strive to engage with innovative, technology-led supply chain companies who share our ambition to make Teesside part of the UK’s first decarbonised industrial cluster. We want to maximise local content in the procurement approach, benefitting communities and regions closest to Teesside. We welcome UK-based supplier with interest in this project to join our efforts - visit https://lnkd.in/eG74EZu9 to learn more and register your interest. #netzero #power #CCUS #lowcarbonfuture #decarbonisation

Carbon Capture, Utilisation and Storage (CCUS) is a unique low-carbon solution which significantly reduces CO2 emissions from across the economy. As we progress to Net Zero, it's important we all encourage can collectively have the confidence to invest in new, proven technologies. CCUS can tackle CO2 where technology options are restricted. Investments have accounted for only 0.5% of global investments in clean energy, but recent advancements in CCUS projects could double CCUS developments by 2025. Read more about how CCUS works here: https://lnkd.in/ewNf2t8g

The NZT Power project is expected to provide dispatchable low-carbon electricity sufficient for around 1.3 million homes, which is nearly 5% of all homes in the UK, and will enhance the deployment of carbon capture technology in line with the Government’s 10-point plan. Projects that support the progression of the government's energy diversification efforts to build resilience against fossil fuel dependency are pivotal and important factors in realising the nations decarbonisation ambitions. Additionally, securing a wide energy portfolio of renewable energy sources provides predictability and safeguards UK citizens against unobtainable consumer prices for gas and electricity brought by the volatility of global energy markets. https://lnkd.in/dqkUy5m #netzero #decarbonisation #teesside