A proposed utility-scale power plant in Texas with near-zero emissions is proving more costly and time-consuming to bring online than expected.
Energy technology company Net Power on Monday put the estimated cost of Project Permian between $1.7 billion and $2 billion. That’s up from an initial price range of $750 million to $950 million — and then $1 billion as of November 2023.
Net Power also has delayed the project’s opening date to “no earlier” than 2029. When announced in the fall of 2022, Project Permian was slated to start up in 2026. More than a year ago, Net Power said it might come online as late as the first half of 2028.
The project, planned for West Texas’ oil and gas-rich Permian Basin, could generate about 300 megawatts of electricity, according to a company release from 2022. It’s closely watched in part because Net Power claims its system captures 97 percent of the carbon dioxide used for power generation.
