Everything News Jobs Opportunities Events Products/Services
Go to Home
Sign Up Sign in

The Low Carbon Economy Ltd

10 Dec 2010 10:12:04

CCS parent company Powerfuel enters administration

CCS parent company Powerfuel enters administration
The parent company behind one of the UK's first carbon capture and storage (CCS) demonstration projects, Powerfuel Plc, has entered administration.

KPMG has been called in as the administrator of the power group, although the company stresses Powerfuel Mining and Powerfuel Power, the CCS arm, have not gone into administration.

The company is behind the development of the 900MW CCS project at the Hatfield colliery in Doncaster and it is hoped the business will be sold to someone with the necessary funds to continue with the project.

Richard Fleming, joint administrator from KPMG, commented: "Developing low carbon energy generation requires a large amount of capital upfront and the CCS development falls £635m short of the investment needed to progress the project beyond the preliminary stage. It needs moving on to a new owner with deeper pockets."

Powerfuel purchased the Hatfield colliery in 2006 and currently employs 380 people at the site, who it assures will not be affected by the administration proceedings.

It was granted consent to develop the CCS demonstration project, which should capture 90 percent of emissions, at the site in 2009. ADNFCR-1235-ID-800283993-ADNFCR

Discussion Thread  


The Low Carbon Economy Ltd Community

Related Items From Everyone

  1. Siemens well on track to become one of the world's top three providers of wind turbines – new...

    03 Dec 2010
  2. I am not against wind generators or wind farms in the right places. But as the Government is...

    31 Jul 2009
  3. http://www.google.com/hostednews/afp/article/ALeqM5hNG1Y4IMQNL2N819UMDK3x7VXeSAClimate change:...

  4. Online Traffic School Products & Services

    Online Traffic School

  5. The government has been accused of hypocrisy by Friends of the Earth after business secretary...

    29 May 2008

Go To Home

Resource Links

We're social: View Available Feeds Find out more! Leave us your feedback


We appreciate all feedback. Please leave as much or as little as you like about any aspect of this website.

If your message requires a response, please leave your email address.