A company that envisions utility-scale gas power plants with carbon capture signed an agreement Monday to advance its technology at multiple sites in Northern California.
Net Power is looking to build low-emissions power plants near Carbon TerraVault’s storage vaults to permanently sequester the CO2. The two companies signed a memorandum of understanding to conduct feasibility studies on the project.
Ultimately, the companies plan to develop roughly 1 gigawatt of power capacity from Net Power’s plants, which could lead to sequestration of up to 3.6 million metric tons of CO2 each year underground. Net Power says its system captures 97 percent of the carbon dioxide used for power generation.
Danny Rice, CEO of Net Power, said neither company has a firm timeline or cost estimate for the plants as they explore a build out in the Golden State.
