TransAlta signs agreement with technology partner Alstom to develop carbon capture and storage project in Alberta, Canada
April 03 2008 - 7:50AM
Marketwired
CALGARY, ALBERTA (NYSE: TAC) and Alstom (EURONEXT: ALO), a
global leader in power generation technology, today announced the
signing of an agreement to work together to develop a large scale
CO2 capture and storage (CCS) facility in Alberta, Canada.
The project will pilot Alstom's proprietary Chilled Ammonia
Process. TransAlta considers the Chilled Ammonia Process as one of
the more promising and potentially lowest cost solutions for CCS.
TransAlta's plan with Alstom is to test the technology at one of
TransAlta's coal fired generating stations west of Edmonton and
reduce current CO2 emissions by one million tonnes per year.
"Our project with TransAlta is a key part of our objectives for
the early deployment of the technology. There will be no CCS
without storage, and we are aware of the favorable geological
conditions in Alberta, Canada. That is why we have set this region
as a priority for our development efforts," said Philippe Joubert,
Alstom Executive Vice President and President of Alstom Power
Systems.
The first phase of the overall project, aimed at advancing and
improving understanding of CO2 capture and storage technology, will
begin this year with engineering, stakeholder relations and
regulatory work at a cost of approximately $12 million. This, and
subsequent phases, are subject to partner and government funding,
and will continue over the next five years with testing expected to
commence in 2012.
Coal-fired generation accounts for almost half of the generating
capacity in North America - it is essential that processes be
developed to find an economically viable way to retrofit existing
infrastructure.
"We think it is important to advance the science of CCS if
Canada, and the world, are to effectively reduce CO2 emissions,"
said Steve Snyder, President and CEO of TransAlta. "Over the long
term, we believe CCS can be a source of competitive advantage for
TransAlta and for Canada. These initial projects, however, are not
commercially viable at this point, and will not proceed without
industry and government partnerships."
TransAlta has also partnered with experts at the Institute for
Sustainable Energy, Environment and Economy (ISEEE), part of the
University of Calgary, to quantify CO2 sequestration potential in
the Wabamum area west of Edmonton. The results, due in January
2009, will provide a scientific assessment of potential
sequestration sites in the area surrounding several power plants
including their capacity and security.
About TransAlta
TransAlta is a power generation and wholesale marketing company
focused on creating long-term shareholder value. We maintain a
low-risk profile by operating a highly contracted portfolio of
assets in Canada, the United States, Mexico and Australia. Our
focus is to efficiently operate our coal-fired, gas-fired, hydro
and renewable facilities in order to provide our customers with a
reliable, low-cost source of power. For nearly 100 years, we've
been a responsible operator and a proud contributor to the
communities where we work and live.
About Alstom
Alstom is at the forefront of carbon capture technology
development. In 2007, as part of its multi-product strategy, Alstom
announced contracts with AEP, Statoil, Vattenfal and E.ON to test
CO2-capture technologies in the U.S. and Europe.
Alstom (http://www.alstom.com) is a global leader in the world
of power generation and rail infrastructure and sets the benchmark
for innovative and environmentally friendly technologies. Alstom
builds the fastest train and the highest capacity automated metro
in the world, and provides turnkey integrated power plant solutions
and associated services for a wide variety of energy sources,
including hydro, gas, coal and wind. About 25 percent of the
world's electricity produced is generated by Alstom technology. The
Group employs 70,000 people in 70 countries, and had orders of euro
19 billion in 2006-07.
This news release may contain forward-looking statements,
including statements regarding the business and anticipated
financial performance of TransAlta Corporation. These statements
are subject to a number of risks and uncertainties that may cause
actual results to differ materially from those contemplated by the
forward-looking statements. Some of the factors that could cause
such differences include legislative or regulatory developments,
competition, global capital markets activity, changes in prevailing
interest rates, currency exchange rates, inflation levels and
general economic conditions in geographic areas where TransAlta
Corporation operates.
Note: All financial figures are in Canadian dollars unless noted
otherwise.
Contacts: TransAlta Corporation - Media inquiries Michael
Lawrence Senior Advisor, Media Relations Phone: (403) 267-7330
Email: michael_lawrence@transalta.com TransAlta Corporation -
Investor inquiries Jennifer Pierce Director, Investor Relations
Phone: 1-800-387-3598 in Canada and U.S. Email:
investor_relations@transalta.com Website: www.transalta.com Alstom
US - Media inquiries Melina Georgitsis (860) 938-0501 Email:
Melina.a.georgitsis@power.alstom.com
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