Vattenfall is one of the biggest energy company in Europe. The problem is that they produce coal-based energy which produces high amounts of CO2 that harm the environment and cause global warming. Now, thanks to a new project, Vattenfall will be able to produce coal-based energy without any CO2 emissions.
Seems pretty unbelievable but Lars Josefsson, President and CEO of Vattenfall, says that “this technology will become more important than offshore wind farms.” The Swedish company is looking to produce energy from coal while capturing carbon and storing it.
This technique is called CCS (carbon capture and storage) and is the only way that in the future companies will produce coal-based energy.
“Our project at Schwarze Pumpe puts us at the forefront of this technology in the world,” said Tuomo Hatakka, Senior Executive Vice President at Vattenfall, who believes that “coal has a future, we are convinced of that, but the carbon dioxide emissions from it have no future.”
As clean technology will be their main objective, Vattenfall is planning to build its first “large-scale CCS power station” by 2020.
For the moment, they will build two CCS demonstration plants in Germany and Denmark, but the problem is that “Vattenfall managers talk a lot about supposedly environmentally friendly coal power stations but they are still planning and building conventional coal-fired power stations with high levels of CO2 emissions.”
We are very sorry to hear that, but Tuomo Hatakka gave us hope by saying that “in tandem with EU-wide trading in emission rights, CCS will be economic. At 30 to 35 euros per emission certificate, the technology breaks even.”
We should have thought that the money are a problem as this is what the big companies are after. Well, we are pleased to hear that the costs CCS power plants will compete against the costs of coal power plants with high amounts of CO2 emissions.