I Squared Capital, its portfolio company Low Carbon Infrastructure (LCI), and Google have partnered to develop the Broadwing Energy project in Decatur, Illinois, a over 400-megawatt natural gas plant with carbon capture and sequestration (CCS) technology.
This agreement is significant as the first corporate offtake agreement for a CCS-enabled power plant and aims to create a model for scaling clean power alongside renewables.
Scheduled to be operational in 2030, the plant is expected to capture and store over 90% of its CO₂ emissions using existing infrastructure at an Archer Daniels Midland (ADM) site with established CO₂ sequestration experience. Captured CO₂ will be permanently stored underground in ADM’s EPA Class VI-approved wells.
Google is purchasing the majority of the plant’s power for its data centers to support and scale CCS technology, intending to make low-carbon power more accessible and affordable.
I Squared Capital and LCI plan further CCS-enabled projects, and Broadwing Energy is projected to generate substantial economic benefits, including significant construction and permanent jobs.
Reference article: I-squared-capital-and-low-carbon-infrastructure-announce-landmark-clean-power-partnership-with-google
