Environmental stewardship is fundamental to Calpine’s philosophy and culture in addition to operating the largest geothermal facility in the world and the youngest, most efficient fleets of gas-fired power plants, Calpine has been a long-time advocate of the Clean Power Plan, Paris Agreement, carbon pricing and decarbonization. Calpine operates a fleet of 76 power plants representing nearly 26,000 MW of generation capacity. Through wholesale power operations and our retail businesses, Calpine’s diverse team of approximately 2,300 employees serves customers across 22 states, Canada and Mexico. Intergovernmental Panel on Climate Change (IPCC) estimates global decarbonization efforts could be twice as costly without CCS.Ĭalpine Corporation is America’s largest generator of electricity from natural gas and geothermal resources, with operations in major competitive wholesale and retail power markets across the U.S. The International Energy Agency projects CCS could mitigate up to 15 percent of global emissions by 2040, and the U.N. Gulf Coast is enough to hold 500 billion metric tons of CO 2 - more than 130 years of the country’s total industrial and power generation emissions, based on 2018 data.Īlthough renewables will continue to play an important role in a lower-carbon energy future, CCS is one of the few proven technologies that could enable some industry sectors to decarbonize, such as manufacturing and heavy industry. Department of Energy estimates that storage capacity along the U.S. Gulf Coast region in formations thousands of feet below the surface or seabed. With supportive regulations, CO 2 from the Houston industrial area could be safely stored in the U.S. The 11 companies will continue to advocate for policies that enable the long-term commercial viability of new, expanded and existing CCS investments in Texas.ĬCS is the process of capturing CO 2 from industrial activity that would otherwise be released into the atmosphere and injecting it into deep underground geologic formations for safe, secure and permanent storage. If appropriate policies and regulations are put in place, CCS could generate tens of thousands of new jobs, protect current jobs and reduce emissions at a lower cost to society than many other widely available technologies. Wide-scale deployment of CCS in the Houston area will require the collective support of industry, communities and government. “We’re reimagining what it means to be the energy capital of the world, and applying proven technology to reduce emissions is one of the best ways to get started.” “Houston can achieve our net zero goals by working together, and it’s exciting to see so many companies have already come together to talk about making Houston the world leader in carbon capture and storage,” said Sylvester Turner, Mayor of Houston. They could announce their support at a later date and add further momentum toward the city of Houston’s ambitions to be carbon neutral by 2050. There are ongoing discussions with other companies that have industrial operations in the area to add even more CO 2 capture capacity. If CCS technology is fully implemented at the Houston-area facilities these 11 companies operate, nearly 75 million metric tons of CO 2 could be captured and stored per year by 2040. Collectively, the 11 companies are considering using CCS technology at facilities that generate electricity and manufacture products that society uses every day, such as plastics, motor fuels and packaging. The companies plan to help address industrial CO 2 emissions in one of the largest concentrated sources in the United States. Calpine, Chevron, Dow, ExxonMobil, INEOS, Linde, LyondellBasell, Marathon Petroleum, NRG Energy, Phillips 66 and Valero have agreed to begin discussing plans that could lead to capturing and safely storing up to 50 million metric tons of CO 2 per year by 2030 and about 100 million metric tons by 2040. HOUSTON, Texas – Eleven companies have expressed interest in supporting the large-scale deployment of carbon capture and storage (CCS) technology in Houston. Companies bring collective expertise as industry leaders with diverse capabilities.Collective efforts could capture and store approximately 50 million metric tons of CO 2 per year by 2030 100 million by 2040.Eleven companies support large-scale deployment of carbon capture and storage to help decarbonize industrial facilities discussions ongoing with others.Scott Castleman (30, Klass (60, for individual companies provided at end of release
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