Australia’s largest industrial low emissions technology fund COAL21 will contribute several million dollars of funding to help establish Australia’s first commercial scale carbon capture hub located in Queensland.
The funding from COAL21 supports a final investment decision scheduled for June (2020) to begin construction of a $150m carbon capture plant at the Millmerran Power Station as part of the storage company’s integrated carbon capture, utilisation and storage (CCUS) project in the Surat Basin.
This plant – together with the further stage of geological storage – represents an estimated $230m investment in industrially-scalable carbon capture and storage (CCS) in Queensland’s Surat Basin, and removes approximately 25,000 cars equivalent of emissions every year.
The Surat Basin has been chosen for its storage potential for carbon dioxide (CO2), a range of potential commercial users of CO2, and a number of significant industrial sources of CO2, particularly Australia’s newest coal fired power stations at Millmerran, Kogan Creek and Tarong North.
The additional investment from COAL21 will provide the hub with:
- An emissions reduction solution for carbon exposed industries in Southern Queensland
- Better and more secure employment opportunities and improve energy security in the National Electric Market
- The foundation of a commercially competitive emission reduction and removal solution for new high efficiency low emission power stations as well as emissions reduction infrastructure for Australian industries of the future such as hydrogen production and carbon recycling
The funding also illustrates Australia’s commitment to practical, effective action on emissions reduction, industry development and a sustainable economy.
COAL21 is a $550m low emission technology fund established by the Australian black coal industry with the purpose of investing in research and deployment of carbon reduction technologies.