Competitive Power Ventures said in the release that the project was made possible by the Inflation Reduction Act, which expanded the 45Q federal tax credit for carbon capture and sequestration for power generation projects. Earlier this year, West Virginia established a legal framework and pilot program to encourage carbon capture and sequestration technologies in the state. These two pieces of legislation made West Virginia an ideal location for this investment, the company said.
It will be the state’s first combined-cycle energy plant, Sen. Joe Manchin (D-WV) said at a press conference about the project .
“The Inflation Reduction Act is already having a positive impact for the people of West Virginia and carbon capture utilization efforts here in the United States,” Manchin said in a press release . “I’m pleased Competitive Power Ventures is investing in the Mountain State and look forward to seeing the benefits of this investment — including long-term, good-paying jobs and supporting our regional economies — for years to come.”
The plant’s carbon capture system would remove 90 to 95% of the carbon dioxide from its waste stream, West Virginia Public Broadcasting reported . The regulatory approval process has been started, according to the company, and a firm timeline for commercial operations will be announced once it is complete.
While this natural gas plant is only one of a handful worldwide aiming to incorporate carbon sequestration, that capability is increasingly in demand. Several companies across the U.S. are planning to outfit natural gas power plants with carbon capture, a database maintained by the environmental group Clean Air Task Force shows , especially in Texas and Iowa.
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