Balfour Beatty Wins GBP 833 Mln Contract For World-First Net Zero Teesside Power Project

(RTTNews) - Balfour Beatty (BBY.L) announced the award of an 833 million pounds contract from Technip Energies to serve as the construction partner for Net Zero Teesside Power — an onshore power, capture, and compression project set to become the world's first gas-fired power station with integrated carbon capture and storage.

Balfour Beatty said it will work alongside Technip Energies and GE Vernova - with the support of technology partner Shell Catalysts & Technologies - to construct the large-scale combined cycle gas-powered generation plant for Net Zero Teesside Power, a joint venture between bp and Equinor.

In addition, the company will build the post combustion carbon capture system, which is expected to capture up to two million tonnes of CO2 per year, before it is compressed and fed directly into the offshore pipeline to be stored under the North Sea by the Northern Endurance Partnership - a joint venture between bp, Equinor and Total Energies.

On completion, it is expected that the new power station will produce up to 742 megawatts of flexible, dispatchable low-carbon power, equivalent to the average annual electricity requirements of more than one million UK homes, further supporting the UK's transition to a cleaner energy future.