In a significant project development, the Iowa Utility Board (IUB) has approved Summit Carbon Solutions’ proposal to construct the world’s largest carbon capture pipeline. This project will traverse five states: Iowa, Minnesota, North Dakota, South Dakota, and Nebraska, covering a total of 2,500 miles of land. The pipeline will connect with 57 ethanol plants and impact numerous private landowners, many of whom have expressed opposition to the project. The approved portion in Iowa spans 680 miles, according to a Summit spokeswoman.
Despite objections from landowners, the IUB granted Summit Carbon the right to use eminent domain to acquire 859 land parcels for the project. The Board determined that Summit’s services would benefit the public convenience and necessity, thus allowing the company to exercise eminent domain.
The approval comes with certain conditions, including the submission of revised exhibits for IUB review, the acquisition of a $100 million insurance policy, compliance with specific construction methods, and compensation for damages to landowners and tenants during construction.
Summit Carbon must also secure approvals from the other states involved in the project. The company is preparing to file its South Dakota permit application in July and aims for a successful outcome. Summit reports that it has already obtained easement agreements from 75% of Iowa landowners along the route.
Despite opposition from landowners, the project is supported by federal tax credits as a solution to climate change. It involves capturing carbon dioxide from ethanol plants, compressing the CO2, and transporting it via pipeline to North Dakota for underground storage in geologic locations.
Large-scale carbon sequestration projects like this one are eligible for federal tax incentives, such as the Carbon Capture and Sequestration tax credit (45Q), valued at up to $85 per ton of CO2 captured. Summit anticipates storing 16.7 million tons of CO2 annually, resulting in significant tax incentives.
The IUB’s decision followed a thorough review process, including thousands of written comments, hearing transcripts, and testimonies from witnesses and landowners. Despite the decision, groups like the Sierra Club Iowa Chapter remain opposed to the project and plan to appeal the ruling.
Overall, the approval of Summit Carbon Solutions’ carbon capture pipeline marks a significant milestone in the effort to reduce carbon emissions and combat climate change. Can you please provide a different version?
Source link
