Net Power’s carbon capture gas plant delayed to 2027, costs rise to $1 billion amid supply chain issues.

Net Power, the world’s first utility-scale gas plant with carbon capture, has been delayed until 2027 due to supply chain challenges. The company’s Project Permian in Texas’ Ector County, was set to be completed in 2026 and generate electricity with nearly zero emissions. However, Net Power’s President Brian Allen stated that the project will be completed between the second half of 2027 and the first half of 2020. The cost of the project has been increased to approximately $1 billion, up from the initial price tag of between $750 and $950 million. The technology produces electricity by combusting natural gas with pure oxygen, creating water and carbon dioxide, most of which is recirculated back into its power generation system. Occidental Petroleum is a major supporter of Net Power, investing at least $350 million in the startup since it was founded in 2010.