Balfour Beatty secures £833m contract for Net Zero Teesside Power project.
Balfour Beatty secures £833.0m contract with Technip Energies that will see it act as the construction partner for Net Zero Teesside Power - an onshore power, capture and compression project.
Balfour Beatty
26 June 2025 07:39:34
Source: Sharecast
Balfour Beatty said on Thursday that it will work alongside Technip Energies and GE Vernova to construct the large-scale combined cycle gas-powered generation plant for Net Zero Teesside Power, a joint venture between BP and Equinor.
Additionally, Balfour Beatty will build the post-combustion carbon capture system, which was expected to capture up to 2.0m tonnes of CO2 every year, before it is compressed and fed directly into the offshore pipeline to be stored under the North Sea by the Northern Endurance Partnership.
Balfour Beatty said the full value of the contract will go into its order book by the end of Q225, with construction expected to commence this year and be completed in 2028.
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