The Millmerran Power Station will be at the forefront of cutting-edge carbon capture technology development, thanks to a $5 million boost from the Coalition Government, Maranoa MP David Littleproud announced today.
The Carbon Transport and Storage Company (CTSCo) will receive up to $5 million to demonstrate the viability of carbon capture and storage, under the Government’s $50 million Carbon Capture, Use and Storage (CCUS) Development Fund.
Based at Millmerran Power Station, the CTSCo project will also support the development of a geological storage basin in the Surat Basin.
Maranoa MP David Littleproud said the project will support new economic opportunities and create jobs in Millmerran and surrounding areas.
“The Government is committed to investing in the next generation of energy technologies that will deliver lower emissions, lower costs and create more jobs, and Maranoa is leading the way with innovative projects like this carbon capture and storage facility in Millmerran,” Mr Littleproud said.
The CTSCo project is one of six new projects backed by the CCUS Development Fund to accelerate the development of carbon capture technology in Australia and boost its role in reducing emissions.
“The Government’s Technology Investment Roadmap is supporting our industries to drive emissions reductions while continuing to create jobs. Together, these projects will create close to 470 direct jobs and deliver $412 million of investment, much of this in regional areas,” Mr Littleproud said.
Minister for Energy and Emissions Reduction Angus Taylor said the overwhelming demand for funding through the CCUS Development Fund was further proof of the viability and importance of carbon capture technologies.
“We received funding applications to support $1.2 billion of investment in carbon capture projects and technologies,” Minister Taylor said.
“The projects we have supported through this program include a number of exciting, Australian-first technology demonstrations.
“Analysis by the International Energy Agency (IEA) shows that half the global reductions required to achieve net zero will come from technologies that are not yet ready for commercial deployment.
“That’s why we’re partnering with industry to accelerate new projects and unlock the emissions and economic benefits of carbon capture technology.
“The IEA and IPCC both regard carbon capture technologies as essential to achieve the goals of the Paris Agreement.
“Australia already has the world’s largest carbon capture facility of its kind, and this is one of five priority areas for future investment under the Government’s Technology Investment Roadmap.”
The CCUS Development Fund is part of the Government’s $1.9 billion new energy technologies package announced in the 2020-21 Budget. The $1.9 billion package included resourcing to support the development of a CCS method for the Emissions Reduction Fund (ERF), which is expected to be completed later this year.
Further funding opportunities are available through the $263.7 million announced in the 2021-22 Budget for CCUS projects, hubs and technologies and the Australian Renewable Energy Agency (ARENA).
