Federal Minister for Resources and Energy, Martin Ferguson has announced joint funding of $100 million by the Federal Government ($70 million) and the Victorian Government ($30 million) towards the development of Victoria’s first carbon capture and storage (CCS) project, CarbonNet.
The CarbonNet Project aims to capture carbon emissions from power plants, industrial processes and new coal-based industries in the Latrobe Valley and store it in geological basins.
The funding feasibility work billion plus is intended as part CarbonNet to support of the $1 Project to
demonstrate low emission brown coal electricity generation in the region.
