Eco Innovator March 2012

Government Grants

$100 Million for Carbon Capture in the Latrobe Valley

The Australian and Victorian Governments are to provide a total of $100 million towards the development of Victoria's first carbon capture and storage (CCS) project - CarbonNet.

The $70 million from the Commonwealth and $30 million from the Victorian Government will support feasibility work as part of the $1 billion plus CarbonNet project to demonstrate low emission brown coal electricity generation in the region.

CarbonNet is the second project to receive funding under the Federal Government's Carbon Capture and Storage Flagships program. It aims to capture carbon emissions from power plants, industrial processes and new coal-based industries in the Latrobe Valley and store it in geological basins.

The minister for Resources and Energy, Martin Ferguson, said "Investment in CCS is part of the Commonwealth's suite of support for a range of clean energy technologies to reduce greenhouse gas emissions over time. The economic base of the Latrobe Valley depends on brown coal and while the Government is committed to cutting CO2 emissions, the last thing we want to do is cut jobs in the process. Projects like CarbonNet will help shape a new economic future for this critical region."

The Victorian minister for Energy and Resources, Michael O'Brien, said the Gippsland Region was one of Australia's most promising carbon storage sites.

The Victorian Department of Primary Industries manages the CarbonNet Project. The feasibility work will include modeling and testing of potential CO2 storage sites.

Minister Ferguson also said the Victorian Government has been awarded an offshore tenement for CO2 storage site exploration in the Gippsland Basin.

 

 

 



 





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