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How 'Learning by Doing' Can Make the UK a Leader in the Global Carbon Capture Market
Date:11 May 2012
The recent launch of the UK Carbon Capture & Storage (CCS) Competition and CCS Roadmap provides a much-needed shot in the arm to this exciting industry, both by financially and in displaying the UK government's commitment to this vital technology. The offer of £1 billion together with the development of a suitable financing package under the UK's Electricity Market Reform will enable companies to make the necessary investment decisions that will bring forward the first CCS projects in the UK. Despite a half-decade delay and numerous setbacks, the industry remains positive about CCS, and the UK is in one of the strongest positions to commercialise the technology; generating around 100,000 jobs and 6.5bn in the 2020s. Industry is already responding, in April plans for a new commercial-scale CCS project were announced and another proposal also announced major inward investment from Samsung bringing to seven the number of proposed large scale projects in the UK.