Channelview Cogeneration Joins Houston CCS Alliance, Expanding Membership to 13
- Channelview Cogeneration, a Cogeneration Plant owned and managed by funds and accounts managed by affiliates of Ares Management Corporation (?Ares?), is the latest organization to join the Houston CCS Alliance, increasing the total number of members to 13.
- The Alliance companies believe industry in the Houston region can collectively capture and store approximately 50 million metric tons of CO2 annually by 2030 and 100 million metric tons of CO2 annually by 2040, significantly reducing CO2 emissions from one of the United States? largest industrial areas.
- The Alliance’s mission of deploying CCS technologies has gained support from organizations and groups across the state, as they understand CCS will bring significant environmental and economic benefits to the Houston region.
Channelview Cogeneration, a Cogeneration Plant owned and managed by funds and accounts managed by affiliates of Ares Management Corporation (?Ares?), has become the 13th member of the Houston CCS Alliance. It joins the existing members in advancing the Alliance?s mission to reduce industrial carbon dioxide (CO2) emissions in the Houston area, one of the nation?s largest concentrated sources of CO2, and make it the model for an emerging, lower-emission world that supports jobs, economic growth, and prosperity.
Channelview Cogeneration, along with Air Liquide, BASF, Calpine, Chevron, Dow, ExxonMobil, INEOS, Linde, LyondellBasell, Marathon Petroleum, Phillips 66, and Shell, are working together to evaluate deployment of CCS technologies in the Houston region. These efforts will allow for industry to continue providing the energy resources and products needed to make modern life possible, including fuels and electric power generation, as well as advanced manufacturing for essential everyday products.
Collectively, Alliance companies see the opportunity for the Houston region to capture and store approximately 50 million metric tons of CO2 annually by 2030 and 100 million metric tons of CO2 annually by 2040, significantly reducing CO2 emissions from one of the United States? largest industrial areas.
Channelview Cogeneration is a 930 gross megawatt (MW) baseload natural gas-fired electric cogeneration plant located in Harris County, Texas. Channelview Cogeneration, operational since 2002, is one of the largest and most efficient cogeneration plants in the Electric Reliability Council of Texas (ERCOT). The facility provides critical infrastructure to the Texas grid and neighboring industrial sites all while operating consistently during several severe weather events. Channelview Cogeneration can contribute to a lower-emission future through the advancement of carbon capture and storage technologies at its facility.
?We are thrilled to join the Houston CCS Alliance and put our flag in the ground for support of carbon capture in the Houston area as we continue to deliver on Ares? commitment to supporting the transition to a lower-carbon economy through innovation in climate infrastructure,? said Andrew Pike, Co-Head of the Ares Infrastructure Opportunities strategy, which manages Channelview Cogeneration. ?We believe Channelview Cogeneration would be a strong candidate for carbon capture technology and that joining the Alliance both facilitates successful implementation at the project and allows us to provide the other Houston CCS Alliance members with lessons learned during the project?s development.?
Over the past two years, the Alliance and its members have been working closely to provide local communities, elected officials and other community leaders the opportunity to learn more about CCS and the environmental and economic benefits these technologies can bring to our region.
About Channelview Cogeneration
Channelview Cogeneration is owned by EIF Channelview, LLC, an entity owned by funds and accounts managed by affiliates of Ares Management Corporation (?Ares?). Within Ares, Channelview Cogeneration is managed by the Ares Infrastructure Opportunities (?AIO?) strategy. Ares is a leading global alternative investment manager with approximately $360 billion of assets under management as of March 31, 2023. Ares strives to be a catalyst for shared prosperity and a better future. Ares helps make alternative investing in the private capital markets an engine for an inclusive and lower-carbon economy by engaging across the Ares spheres of influence with the potential to touch thousands of companies in which Ares invests and the communities they serve.
AIO provides capital for assets and companies across the climate/energy transition infrastructure, natural gas power generation and energy transportation sectors. AIO has committed and/or invested over $11 billion of capital in nearly 270 infrastructure and power assets and companies as of March 31, 2023. This includes over 45 gigawatts (?GW?) of power generation and transmission projects and over 1,100 miles of midstream pipelines.
