- Net Zero Teesside (NZT) Power is
expected to be one of the first gas-fired power stations of its
kind - fully integrated with carbon capture technology.
- Consortium and technology selection
marks an important next step towards the proposed development of
bp’s NZT Power project in the UK, aiming to capture up to 2 million
tonnes of CO2 per year.
- Project is expected to provide
flexible, dispatchable low-carbon power equivalent to the average
electricity requirements of around 1.3 million UK homes, and to
progress the deployment of carbon capture technology in line with
the UK Government’s net-zero programme.
Technip Energies (PARIS: TE), leader of a
consortium with GE Vernova, and construction partner, Balfour
Beatty, received a Letter of Intent from bp, on behalf of NZT
Power Limited for the execution phase of the Net Zero Teesside
Power (NZT Power) in the United Kingdom.
This landmark project is poised to become one of
the world’s first commercial scale gas-fired power stations with
carbon capture, expected to capture up to 2 million tonnes of CO2
per year. The project is set to provide flexible, dispatchable
low-carbon power equivalent to the average electricity requirements
of around 1.3 million UK homes, further supporting the nation's
transition to a cleaner energy future.
The NZT Power project is also a key component of
the Carbon Capture, Usage and Storage (CCUS) East Coast Cluster and
has been shortlisted for government funding support as part of the
UK's net-zero programme. This selection follows the Development
Consent Order recently having been granted by the Secretary of
State for the Department for Energy Security and Net Zero.
The Technip Energies and GE Vernova consortium,
supported by leading infrastructure group Balfour Beatty, will play
an important role constructing a highly efficient combined cycle
plant. It will be powered by an advanced GE Vernova 9HA.02 gas
turbine, a steam turbine, a generator and a Heat Recovery Steam
Generator (HRSG), which will integrate with a state-of-the-art
carbon capture plant using Technip Energies’ Canopy by T.ENTM
solution powered by the Shell CANSOLV® CO2 capture technology.
Technip Energies, GE Vernova,
and Balfour Beatty, supported by Shell in the UK are
forming the Carbon Capture Alliance (CCA). The alliance members are
deeply committed to long-term investment in the UK, with members
already possessing a significant UK footprint and a mature UK
supply chain.
In March 2023, the UK government announced up to
£20 billion to support the initial deployment of CCUS, focused on
creating four clusters by 2030, including the East Coast cluster
which includes Teesside. Government analysis shows that up to 10
gigawatts of power CCUS could be needed in order to decarbonise the
UK power sector by 2035 (10GW is around 10% of the total UK
electricity system today).
Arnaud Pieton, CEO of Technip
Energies, commented, “Our selection for the Net Zero
Teesside Power project is a testament to Technip Energies growing
leadership position as an integrated state-of-the-art CCUS
solutions provider. By capturing up to 2 million tonnes of CO2 at a
large power plant, we collectively rise to the challenge of scale
by providing sustainable and available energy at a large scale.
With our partners GE Vernova and Balfour Beatty, we are honoured to
contribute to this flagship project that supports bp and the UK in
their goal of developing one of the first decarbonised industrial
clusters in the world.”
Maví Zingoni, CEO, Power at GE
Vernova commented: “The development of
Net Zero Teesside Power, one of the world’s first commercial scale
gas-fired power stations with carbon capture, marks a huge step
towards supporting the UK government’s commitment to fully
decarbonise its power system by 2035. GE Vernova will help bring
proven expertise in natural gas combined cycle plant engineering,
operability, and full-scale integration to support carbon abatement
for this project. We believe post-combustion carbon capture can
play a crucial role in reducing emissions and ensuring dispatchable
power in the future.”
Leo Quinn, CEO of Balfour Beatty
Group, said: “Today’s announcement takes us a step closer
to realising one of the world’s first commercial scale gas-fired
power stations with carbon capture. It’s a significant milestone in
delivering the critical infrastructure needed to transition the UK
to Net Zero. Balfour Beatty’s market leading capabilities,
underpinned by our unrivalled experience and proven track record in
delivering complex infrastructure projects, means we are perfectly
positioned to support the delivery of this critical project
alongside Technip Energies and GE Vernova – proving on the
world-stage that the UK is primed and ready to lead the way in
decarbonising our industrial footprint.”
About Technip Energies
Technip Energies is a leading Engineering & Technology
company for the energy transition, with leadership positions in
Liquefied Natural Gas (LNG), hydrogen and ethylene as well as
growing market positions in blue and green hydrogen, sustainable
chemistry and CO2 management. The company benefits from its robust
project delivery model supported by extensive technology, products
and services offering.
Operating in 34 countries, our 15,000 people are fully committed
to bringing our client’s innovative projects to life, breaking
boundaries to accelerate the energy transition for a better
tomorrow.
Technip Energies is listed on Euronext Paris with American
depositary receipts (“ADRs”). For further information:
www.ten.com.
About GE VernovaGE Vernova is a planned,
purpose-built global energy company that includes Power, Wind, and
Electrification businesses and is supported by its accelerator
businesses of Advanced Research, Consulting Services, and Financial
Services. Building on over 130 years of experience tackling the
world’s challenges, GE Vernova is uniquely positioned to help lead
the energy transition by continuing to electrify the world while
simultaneously working to decarbonize it. GE Vernova helps
customers power economies and deliver electricity that is vital to
health, safety, security, and improved quality of life. GE Vernova
is headquartered in Cambridge, Massachusetts, U.S., with more than
80,000 employees across 100+ countries around the world. GE
Vernova’s Gas Power business engineers advanced, efficient natural
gas-powered technologies and services, along with decarbonization
solutions that aim to help electrify a lower carbon future.
GE Vernova’s mission is embedded in its name – it retains its
legacy, “GE,” as an enduring and hard-earned badge of quality and
ingenuity. “Ver” / “verde” signal Earth’s verdant and lush
ecosystems. “Nova,” from the Latin “novus,” nods to a new,
innovative era of lower carbon energy. Supported by the Company
Purpose, The Energy to Change the World, GE Vernova will help
deliver a more affordable, reliable, sustainable, and secure energy
future. Learn more: GE Vernova and LinkedIn.
About Balfour Beatty
Balfour Beatty is a leading international infrastructure group
with over 25,000 employees driving the delivery of powerful new
solutions, shaping thinking, creating skylines and inspiring a new
generation of talent to be the change-makers of tomorrow.
We finance, develop, build, maintain and operate the
increasingly complex and critical infrastructure that supports
national economies and deliver projects at the heart of local
communities.
Over the last 114 years we have created iconic buildings and
infrastructure all over the world. Currently, we are working to
deliver Hinkley Point C, the first UK nuclear power station in a
generation; constructing the world-class arts and cultural
facility, the Lyric Theatre, in Hong Kong; and designing, building,
financing, operating and maintaining the Automated People Mover
superstructure at the fifth busiest airport in the world, Los
Angeles International Airport.
Important Information for Investors and
Securityholders
Forward-Looking Statement
This Press Release contains forward-looking statements that
reflect Technip Energies’ (the “Company”) intentions, beliefs or
current expectations and projections about the Company's future
results of operations, anticipated revenues, earnings, cashflows,
financial condition, liquidity, performance, prospects, anticipated
growth, strategies and opportunities and the markets in which the
Company operates. Forward-looking statements are often identified
by the words “believe”, “expect”, “anticipate”, “plan”, “intend”,
“foresee”, “should”, “would”, “could”, “may”, “estimate”,
“outlook”, and similar expressions, including the negative thereof.
The absence of these words, however, does not mean that the
statements are not forward-looking. These forward-looking
statements are based on the Company’s current expectations, beliefs
and assumptions concerning future developments and business
conditions and their potential effect on the Company. While the
Company believes that these forward-looking statements are
reasonable as and when made, there can be no assurance that future
developments affecting the Company will be those that the Company
anticipates.
All of the Company’s forward-looking statements involve risks
and uncertainties, some of which are significant or beyond the
Company’s control, and assumptions that could cause actual results
to differ materially from the Company’s historical experience and
the Company’s present expectations or projections. Should one or
more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those set forth in the forward-looking
statements.
For information regarding known material factors that could
cause actual results to differ from projected results, please see
the Company’s risk factors set forth in the Company’s 2022 Annual
Financial report filed on March 10, 2023, with the Dutch Authority
for the Financial
Markets (AFM) and the French Autorité des Marchés Financiers
which include a discussion of factors that could affect the
Company's future performance and the markets in which the Company
operates. Please also see Section 1.3 (Principal Risks and
Uncertainties) of the Company's 2023 Half-Year Report which was
filed with the AFM and the AMF on July 27, 2023.
Forward-looking statements involve inherent risks and
uncertainties and speak only as of the date they are made. The
Company undertakes no duty to and will not necessarily update any
of the forward-looking statements in light of new information or
future events, except to the extent required by applicable law.
ContactsTechnip
Energies
Investor
relationsPhil Lindsay VP Investor RelationsTel:
+44 207 585 5051Email: Phillip Lindsay |
Media
relationsJason HyonnePress Relations & Social Media
ManagerTel: +33 1 47 78 22 89Email: Jason Hyonne |
GE Vernova
Laura AresiPublic Relations Leader - Gas PowerGE Vernova
laura.aresi@ge.com
Balfour Beatty
Antonia Walton Balfour Beatty +44 (0)203 810 2345
Antonia.walton@balfourbeatty.com
- PR_T.EN_LoI NZT_EN
- NZT Power Illustration
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