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Don Valley Electricity Project to Enter UK Carbon Capture and Storage Contest

January 17, 2012

The 650MW Don Valley power project will be entered into the UK government's revamped carbon capture and storage (CCS) competition, the owner of 2Co energy revealed on Tuesday.
2Co announced late on Tuesday that BNP Paribas is to advise on acquiring project financing for the proposed plant - with the company slapping a £5bn (€6bn) price tag on the development's costs.
The Don Valley project was one of nine projects forwarded by the UK for funding from the EU's new entrant reserve (NER) 300 fund.
Jane Paxman, 2Co director of policy, told ICIS Heren that the company plans on applying for the revamped CCS competition run by the UK government when it is relaunched some time this quarter.
A spokesman for the UK's department for energy and climate change confirmed that final details of the scheme will be published this quarter and the intention is to select a winner within six to nine months. The spokesman claimed that the £1bn from the previous scheme is still available for the revamped competition. (ICIS Heren)
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