EDMONTON — An analyst says a corporate decision to mothball Canada's largest carbon capture and storage project is likely the result of financial uncertainty and technological risks.
EDMONTON — An analyst says a corporate decision to mothball Canada's largest carbon capture and storage project is likely the result of financial uncertainty and technological risks.
Capital Power announced Wednesday it would no longer pursue carbon capture at its Genesee power plant near Edmonton. The $2.4-billion project would have captured about three million tonnes of carbon dioxide a year, much more than other Canadian carbon capture facilities.Scott MacDougall of clean energy think tank the Pembina Institute says that's probably because of uncertainty over the future value of carbon credits and the political fate of carbon pricing.
He says Capital Power would have been the first to use the technology in a gas plant, which also carries risk and adds cost.The technology is different and better understood in other industries, he says, meaning the risks are lower.
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