China’s power plant carbon capture costs look set to be between 70% and 90% cheaper than Europe’s, according to new Wood Mackenzie research.
China is targeting carbon capture utilisation and storage (CCUS) costs of roughly $30 to $40 per tonne of CO2 – in sharp contrast to European developers facing costs of upwards of $300 per tonne.
The research consultancy found that despite the power sector’s 13.5 billion tonnes of annual CO₂ emissions, roughly one-third of global energy emissions, only two commercial-scale CCUS projects are operational today.
Over 50% of announced CCUS capacity for power plants has been cancelled or delayed over the past decade.
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