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EUR 500 million and several years worth of work.
This is what was recently thrown out, when the energy company Fortum announced that it would be abandoning its plans to proceed with testing of carbon dioxide capture and storage at its Meri-Pori power plant.
Meri-Pori was the only advanced project dealing with the development of a CO2 capture system in Finland.
The project’s burial confirms the message that critics have been repeating for some time now: the development of technologies to capture and store carbon dioxide may be promising, but without substantial government support or notably higher prices for emission rights its commercial realisation will continue to be on very shaky ground.
Carbon capture and storage, also known as CCS, is a method on which high hopes have been pinned in the efforts to combat climate change.
With the help of CCS, the carbon dioxide that is to blame for the warming of the atmosphere can be separated from the emissions of factories and fossil fuel power plants.
Once captured, the CO2 can be stored deep in the crust of the earth instead of allowing it to enter the atmosphere.
The International Energy Agency (IEA) for one has estimated that bringing the harmful climate change to a stop will be very difficult indeed if some competent CCS methods are not introduced in the near future.
According to the Fortum announcement, the company is now backing away from the Meri-Pori project because of an
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