BP today announced that it plans to double its investment in alternative and renewable energies to create a new low-carbon power business with the growth potential to deliver revenues of around $6 billion a year within the next decade. BP Alternative Energy will manage an investment programme in solar, wind, hydrogen and combined-cycle-gas-turbine (CCGT) power generation, which could amount to $8 billion over the next ten years.
“We are focusing our investment in alternatives and renewables on power generation because it accounts for over 40 per cent of man-made greenhouse gas emissions, the biggest single source. It is also the area where technology can be applied most cost-effectively to reduce emissions." said BP chief executive Lord Browne.
Investment in hydrogen fuels will include the world’s first commercial project – at Peterhead, in Scotland – to turn natural gas into hydrogen by stripping out carbon dioxide and pumping it into depleted oil reservoirs. The hydrogen will be used at a power station in Peterhead to generate 350 megawatts of ‘clean’ electricity, and the carbon dioxide re-injected into the offshore Miller field. BP is looking at a similar sequestration scheme to make hydrogen from low-value coke by-products at a US refinery which would be used to generate 500 megawatts at an adjacent new-build power plant.
The complete press release can be found here.
The most newsworthy part of this announcement is BP's plans for sequestering carbon dioxide as part of two projects. I believe that this is the first time sequestration has been used on non-subsidized commercial projects. Hopefully this will push regulators to look at sequestration as best available commercial technology (BACT) and require it to be used on other projects.
More blogs about environment, hydrogen, energy
丰胸
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丰胸
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