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PPL Corp. (NYSE:PPL) and Delek US Holdings (NYSE:DK) have been chosen by the U.S. Department of Energy Office of Clean Energy Demonstrations to receive funding for separate carbon capture and storage projects.
PPL (PPL) announced that the company and its research partners have been awarded a negotiation for a funding worth $72M to facilitate a carbon dioxide capture research and development project, which is anticipated to require at least $100M in investments.
The project and new carbon capture system will be hosted at PPL (PPL) subsidiaries Louisville Gas and Electric and Kentucky Utilities’ Cane Run 7 natural gas combined-cycle generating station.
Delek US (DK) stated that the DoE has opted to negotiate a cost-sharing agreement to support a carbon capture pilot project at its Big Spring refinery in Texas and intends to provide up to $95M of federal funding to aid its development.
The project will employ Svante Technologies carbon capture technology at the Big Spring refinery’s fluidized catalytic cracking unit, while preserving the existing production capabilities and turnaround schedule; it is anticipated to capture 145K metric tons/year of carbon dioxide.
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