After conducting several studies, Fortum decided to pull the plug on its large-scale CCS demonstration plant. The company cited the technological and financial risks associated with the project as the main variables influencing its decision.
Matti Ruotsala, Executive Vice President of Fortum's Power Division issued this statement regarding the company's decision: "Finncap [the demonstration project] has been one of the biggest and most progressive CCS research projects in the world. Coal condensing is not within the core of the company's operation; in light of this the risks grew too extensive."
It reaffirms the findings of the Illinois Commerce Commission study that criticized the Taylorville CCS plant proposed by Tenaska. The Tenaska company knows they can't build it without having their profits guaranteed by taxpayer subsidies and inflated rates.
Other alternatives are cheaper and cleaner. CCS makes no sense for anyone except coal industry stockholders.