A milestone event in the Danish North Sea is showing that oil and gas majors may finally be taking carbon capture and storage seriously, though greenwashing concerns remain.
UK private equity firm Victory Hill’s VH Global Sustainable Energy Opportunities fund is invested in the construction of two combined heat and power plants in Nottinghamshire, UK, which bring together gas-fired engines technology with a CCS system.
The two power projects have a combined capacity of 45MW, and the CCS will involve privately-held Swiss CCS technology manufacturer, ASCO Carbon Dioxide.
Richard Lum, co-chief investment officer at Victory Hill, says: “Right now there are more entry points for generation of renewable energy into the system as opposed to single large generators. It's really a transformation of the energy system itself, in which clearly carbon capture plays a key role.”
Opening-up energy access to cater for increasing demand and population growth