CALGARY, AB (April 26, 2012) Project Pioneer’s industry partners announced today they will not proceed with the carbon capture and storage (CCS) project. Project Pioneer was a joint effort by TransAlta Corporation, Capital Power L.P., Enbridge Inc., and the federal and provincial governments to demonstrate the commercial-scale viability of CCS technology.
The first step and an essential part of the project was to prove the technical and economic feasibility of CCS through a front end engineering and design (FEED) study before making any major capital commitments. Following the conclusion of the FEED study, the industry partners determined that, although the technology works and capital costs were in-line with expectations, the market for carbon sales and the price of emissions reductions were insufficient to allow the project to proceed.
“While we are disappointed that Project Pioneer will not go ahead, we now know the technology works and we still believe there is a future for CCS,” said Dawn Farrell.
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