PLANS for a £3 billion ‘clean coal’ power station have received a major boost after technology giant Samsung signed up to the scheme.
Samsung is to take a 15 per cent stake in the Don Valley Power project at Stainforth’s Hatfield Colliery being run by 2CO.
Powerfuel, went into administration in 2010 after failing to attrct private backers despite securing £160 million in EU funding.
Lewis Gillies, 2CO chief executive said: “Samsung’s landmark investment is a major vote of confidence in the UK’s potential to lead the world in CCS technology.
“The Don Valley Power Porject is the largest and most cost effective CC project in Europe, and Samsung’s capability, strength and scale now make it Europe’s most deliverable CCS project as well.”
The power station will collect carbon and a pipeline will then pump it to beneath the North Sea where it will be stored in oil fields.