The India government needs to spend $4.3bn at today’s prices to ensure its carbon capture utilisation and storage (CCUS) sector meets projected capacity, according to a report by analyst group and consultancy Wood Mackenzie.
The report – ‘Country insight: five ways India could enable CCUS’ – highlights how the development of a better carbon market could significantly decrease the reliance on direct government support and enhance the overall feasibility of CCUS projects.
But government support is essential, as the projected carbon prices in the country may not be sufficient to cover the weighted levelised cost for emitters adopting CCUS.
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