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Peel Energy, a subsidiary of Manchester-based Peel Holdings, is one of only three bidders left in the race to build a demonstration carbon capture and storage (CCS) plant for the British government.
BP has announced it is pulling out of the bidding because it had failed to put together a consortium for a commercially and technically viable project which it thought had a chance of winning.
The Department of Energy and Climate Change said that Peel, E.ON UK and ScottishPower were all still on the shortlist and the competition would go ahead.
The companies are vying to build a £1bn commercial scale CCS plant of a type which, if successful, would be a key element in the UK government’s clean energy strategy.
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