By Paul Homewood
h/t Joe Public
It looks like Carlton Power have given up the ghost with their proposed new CCGT plant at Trafford.
The owners of the 2GW Carlton gas-fired power plant in Manchester have given up a £450m subsidy, part of the UK’s capacity market scheme, as the facility is unlikely to be completed on time.
Carlton Power insist they will still go ahead with the project, capable of delivering electricity to 2 million homes but had to turn down the subsidy after failing to secure sufficient investment to build the gas power plant on time to produce electricity by the end of 2019.
The Trafford gas-fired power station was the only new large-scale gas plant to get financing under the government’s capacity market scheme, designed to secure the country’s electricity supplies, but failing to meet the financial commitment milestone means they will not be…
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