UK government wants Acorn carbon capture and storage project success – minister
The UK Government wants to see the Acorn carbon capture and storage project succeed, a UK minister has said, after concerns were raised about the way it is being funded.
The project in Aberdeenshire was due to receive £200 million in grant funding from the UK Government, but Chancellor John Healey changed the commitment to mean the UK Government would offer the same amount in loans or receive an equity stake in the project.
Scotland’s First Minister John Swinney has said he was “deeply concerned” about changes to the funding mechanism.
Acorn, which could support about 15,000 jobs at its peak, proposes storing emissions from across Scotland under the seabed of the North Sea.
Hence, too, might be drawn a weighty lesson from the little-regarded truth, that the act of the passing generation is the germ which may and must produce good or evil fruit in a far-distant time; that, together with the seed of the merely temporary crop, which mortals term expediency, they inevitably sow the acorns of a more enduring growth, which may darkly overshadow their posterity.
Nathaniel Hawthorne - The House of the Seven Gables (1851)