Samsung C&T signs JDA with 2Co EnergySamsung C&T said on Wednesday it has signed a joint-development agreement with 2Co Energy Ltd to develop the 650-megawatt Don Valley Power Project in South Yorkshire, England - widely regarded as one of Europe’s most advanced and economically viable Carbon Capture and Storage projects.
Under the agreement, Samsung C&T will take a 15 percent stake in the project. The power project expects to capture at least 90 percent of its CO2 emissions and provide enough low-carbon electricity to power the equivalent of on million homes in the United Kingdom from the end of 2016.
The deal will also see Samsung C&T take on the engineering, procurement and construction contract for the onshore part of the project.
“Samsung C&T will work with 2Co Energy to create an international hub of knowledge and expertise in a vital new technology the rest of the world is looking to pioneer,” said Jung Yeon-Joo, vice chairman and CEO of Samsung C&T.
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