TVA is exploring a number of options to decarbonize its power grid, and the goal of the partnership is to conduct a feasibility study to determine the costs, technical challenges, and operational impacts of carbon capture technology. Information from this study will be used to assess future asset decisions for the TVA fleet.
"TVA is a clean energy leader, and we are focused on reducing carbon emissions in an efficient and cost-effective manner," said Dr. Joe Hoagland, TVA Innovation Research vice president. "Exploring all available technologies to eliminate carbon will allow us to move faster as we work to be net-zero by 2050."
Carbon capture works by sending the exhaust from natural gas power facilities to a CO2 scrubber adjacent to the plant. A chemical reaction absorbs the CO2 before the exhaust is released into the air. The CO2 is then pumped to another vessel and treated with heat that releases the CO2. This released CO2 is compressed and sent deep into the earth for safe storage.
"This public-private partnership is made possible by a shared vision of safely moving toward a reliable and sustainable low-carbon future," said Omar Khayum, TC Energy vice president of Energy Origination and Development. "We are excited to work with TVA to evaluate solutions that will lower the carbon intensity of reliable, baseload natural gas power facilities."
The Tennessee Valley Authority is the nation's largest public power supplier, delivering energy to 10 million people across seven southeastern states. TVA was established 90 years ago to serve this region and the nation by developing innovative solutions to solve complex challenges. TVA's unique mission focuses on energy, environmental stewardship, and economic development. With one of the largest, most diverse, and cleanest energy systems - including nuclear, hydro, solar, gas, and advanced technologies - TVA is a leader in our nation's drive toward a clean energy future.
TVA is a corporate agency of the United States, receiving no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation, and land management for the Tennessee River system, and assists local power companies and state and local governments with economic development and job creation.
About TC Energy
We're a team of 7,000+ energy problem solvers working to move, generate and store the energy North America relies on. Today, we're taking action to make that energy more sustainable and more secure. We're innovating and modernizing to reduce emissions from our business. And, we're delivering new energy solutions - from natural gas and renewables to carbon capture and hydrogen - to help other businesses and industries decarbonize too. Along the way, we invest in communities and partner with our neighbours, customers and governments to build the energy system of the future.
TC Energy's common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the symbol TRP. To learn more, visit us at TCEnergy.com.