NET Power To Build First Utility-Scale Plant With CO2 Sequestration

NET Power And SK Group To Form A Joint Venture - Carbon Herald

NET Power announced it will build the world’s first utility-scale power plant that uses natural gas and integrates with carbon transportation and sequestration. The site, which is expected to go online in 2026, will be located near Occidental’s Permian Basin operations.

NET Power produces power while capturing almost all emissions with its proprietary oxy-fuel combustion and supercritical carbon cycle. 

The company proved its technology at its La Porte demonstration site, and syncronized with the Texas electric grid in the fall of 2021. Earlier this year, NET Power partnered with energy technology company Baker Hughes to create and market a suite of integrated technologies. 

“Having demonstrated the capability of the technology at La Porte, and having partnered with Baker Hughes to commercialize the NET Power system, we are excited to accelerate the deployment of this game-changing technology,” said Ron DeGregorio, CEO of NET Power. “This plant allows for the quick ramp up in NET Power’s global deployments, providing a clear and meaningful pathway to near emission-free reliable power.”

Relevant: Net Power Delivers First-Ever Emission-Free Electricity From Natural Gas

The project aims to reach 300 megawatts (MW) of CO2-free power and will transport captured carbon to a permanent underground storage. 

NET Power will partner with several companies on the new plant. Occidental will be involved in the carbon transportation and sequestration and power off-take. Constellation Energy Generation will offer expertise in plant operations and power off-take. Baker Hughes will provide integrated process equipment and technologies; And 8 Rivers Capital will bring project development support.

The plant will be financed through NET Power’s current capitalization program, together with investments from existing shareholders, and new financing. NET Power is also pursuing government support at the federal, state, and local levels, particularly in grant and loan opportunities as part of the Bipartisan Infrastructure Law. 

Read more: Occidental Starts Construction Of Its First Large-Scale Direct Air Capture Plant

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