A report produced with the Ecofin Research Foundation, Element Energy, Poyry, and the investment community represented in the UK CCS Commercial Development Group.
This report outlines the key actions needed for the government’s forthcoming CCS strategy, due Q4 2016. The report reviews the literature on CCS development thusfar, and shows that crucially, the new strategy must:
- Establish a new CCS delivery model in collaboration with CCS investors
To get the UK’s first commercial CCS projects off the ground, it is vital that the government, project developers and private sector capital providers work together (through working groups, workshops and bilateral discussions) to develop a bankable investment mechanism for CCS on power and industry.
- Make the business case for government and industry co-investment
It is positive news that the government is continuing to provide some level of support to remaining projects. It is important that funding to existing and future projects is provided not as an isolated initiative but as part of an overall business plan and policy to deliver CCS.