Acorn welcomes the UK Government’s recognition of our readiness to enter into Track 2.
This will bring much-needed investor confidence and support the ongoing development of projects included in the Scottish Cluster, which are recognised as the only viable route to decarbonising Scotland’s industries.
Significant investment has already been committed to progressing the Cluster by leading energy producers including SSE, INEOS and ExxonMobil, in addition to the Acorn Partners: lead developer Storegga, technical developer Shell, Harbour Energy and North Sea Midstream Partners.
“We welcome Government's recognition of Acorn as one of two projects already seen as best able to meet the Track-2 eligibility criteria and ready to deliver on the Government’s objectives for Track-2,” said Dr Nick Cooper, CEO of Storegga. “We support the Government's drive to move this forward as quickly as possible now, in order to reach the target of 20-30Mt CO2 captured and stored pa by 2030. Acorn, as the reserve cluster, is ready to step up as soon as the Government asks us to do so.”
Simon Roddy, Senior Vice President of Shell’s UK Upstream business, said: “We welcome the launch of Track 2 and the Government’s positive commitment to developing CCS as a key element of the energy transition. Shell is the technical developer of the Acorn Project, which is central to the Scottish Cluster providing the route to the decarbonisation of Scottish and UK industry.”
Sayma Cox, CEO NSMP said: “Today’s long-awaited announcement is a step in the right direction for the UK in its path to net zero. We are very pleased that the UK Government are moving ahead with the Track 2 sequencing process and that the Acorn Project is considered a strong contender in the process which is essential to the decarbonisation of the UK industrial sector.”
Acorn has received match funding from the UK and Scottish Governments and has benefited from two rounds of Connecting Europe Facility (CEF) funding from the European Commission.