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Vattenfall CEO Sees Carbon Capture Commercially Viable by 2020
Monday, March 16, 2009
Article Type: Cited
Carbon capture and storage technology will take another decade to become commercially viable and will need state backing, according to Vattenfall AB Chief Executive Officer Lars Josefsson.
"2020 is the date we see when it will be possible to have profitable operations of CCS," Josefsson told an industry conference in London today. Vattenfall, based in Stockholm, is the Nordic region’s biggest utility.
Governments around the world are trying to make carbon capture commercially viable to reduce the emission of greenhouse gases that cause global warming.
Josefsson said results of Vattenfall’s 30-megawatt thermal pilot plant at Schwarze Pumpe in Germany were “better than expected.”
"We have full confidence in the technology," he said. "The case for CCS is already there."
Kevin McCullough, chief operating officer of RWE AG’s renewable energy unit RWE Innogy GmbH, said carbon-capture technology “is going to take a lot of commitment by governments” to achieve commercial status.
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