Investing in carbon capture and storage (CCS) in Yorkshire and Humber will provide a major boost to the UK economy, generating £1.3bn and 4,000 skilled-jobs, a new report to be launched tomorrow has revealed.
The report comes just weeks before the government is due to announce the winners of billion pounds worth of funding and finance measures (under the electricity market reform) for a national CCS commercialisation programme, which will be co-funded by the European Union. Two major projects in Yorkshire and Humber have been shortlisted for the funding.
The report states that Yorkshire and Humber is the best strategic location in Europe to build a CCS cluster and that putting this funding into the region will increase the area’s economic output by 0.8 per cent per year, attract as much as £11bn in foreign investment and a further 11,000 jobs.
With plans already set for Siemens and David Brown…
View original post 42 more words