BHP Billiton plans to invest millions of dollars into Saskatchewan Power, a Canadian power company, that will set up a research centre to cut the cost of new carbon capture and storage (CCS) technologies. Saskatchewan Power unveiled its first large scale CCS project last year at a coal-fired Boundary Dam plant, which will capture up to 90% of carbon emissions. The company is also working with other companies on projects in Saskatchewan, including one for an oil sands mine near Fort McMurray, Alberta, where it has already invested more than $200m over four years.
BHP Billiton plans to invest millions of dollars into Saskatchewan Power, a Canadian power company, that will set up a research centre to cut the cost of new carbon capture and storage (CCS) technologies. Saskatchewan Power unveiled its first large scale CCS project last year at a coal-fired Boundary Dam plant, which will capture up to 90% of carbon emissions. The future of CCS technology is important for the fossil fuel industry as heavy regulation is causing closures of plants and a decrease in investment for new projects.