By Bruce Lantz
Pieridae Energy Ltd. [PEA-TSX] of Calgary last week announced the creation of the Caroline Carbon Capture Power Complex at the company’s facility in Caroline, Alberta. It will feature a combination of large-scale carbon capture and sequestration, and blue power production.
“This ‘made in Canada’ solution positions Pieridae to play a key role in helping to lower overall Canadian greenhouse gas emissions,” said Pieridae CEO Alfred Sorensen in a news release.
The complex will be able to sequester up to 3 million tonnes of CO2 annually into one of the facility’s depleted gas reservoirs, an amount equal to the annual emission from the company’s proposed LNG export plant in Goldboro, Nova Scotia, or taking 650,000 vehicles off the road. It will have a maximum power production capacity of 7.9 billion kilowatt hours annually.
“We know the world is looking for ways to transition to a lower-carbon intensity economy,” Sorsenson said. “By capturing and storing carbon on such a large scale, we move further down the strategic path of ensuring Pieridae is net carbon negative across its value chain from the wellhead to LNG delivery into Europe.”