Greentech Lead U.K: Samsung Construction & Trading
announced it has taken a 15 percent stake in a $4.8 billion power station and
carbon capture and storage (CCS) project in Britain, Reuters reported.
Financial terms of the deal were not disclosed.
The project is owned by 2Co Energy and is part of a
650-megawatt coal-fired power plant in Don Valley, South Yorkshire, and will
capture at least 90 percent of the power station’s carbon dioxide emissions,
the report said.
2Co Power (Yorkshire) is a wholly owned subsidiary of 2Co
Energy, which is developing and raising the capital for the power plant portion
of the project. The project involves trapping carbon dioxide otherwise
emitted by fossil fuel power plants, and piping it underground for long-term
storage in spent oil fields or aquifers.
The project also proves to offer a key mechanism to fight
climate change while maintaining the use of traditional energy supplies.
Experts see these projects are critical if Britain wants to reach its long-term
target of reducing emissions by 80-95 percent by 2050, and that opting out of
CCS would require costly alternatives.
2Co Energy received a180 million euro grant from the
European Commission in 2009, the same year it was granted planning permission.
A final investment decision is expected by mid-2013, with completion in 2016,
the statement said.
The plant is expected to capture about five million
metric tons of carbon dioxide a year, using the gas to recover about 150
million barrels of oil under the North Sea before the CO2 is permanently stored
in the oil fields, the statement added.
Recently Samsung announced
that two of its Android devices, the Galaxy S II and the Galaxy Note have received
carbon footprint certification. The Carbon Trust has certified the carbon
footprints of both products having verified that they successfully met the
requirements of PAS 2050, a global standard for product carbon footprinting.