Net Zero Industry Tracker 2024 Aluminium

InfrastructureALUMINIUM According to the MPP’s Aluminium Transition Strategy, the aluminium sector currently has 14.3 GW of clean power available, primarily from hydropower. Low-carbon power capacity requirements are forecast to rise to 223 GW by 2050. The additional power demand is expected to be met through nuclear, renewables and captive power with CCUS.433 The aluminium sector needs to substantially expand its capacity for power from CCS or low-carbon grids to stay on a 1.5°C pathway. Currently, less than 1% of the CCUS capacity required by 2050 is operational. Progress in nuclear power has been slow due to the extensive R&D needed for SMRs, which are not anticipated to be commercially available to the aluminium industry until around 2035, with cost competitiveness potentially being achieved by 2040. Furthermore, the slow advancement of CCUS in smelting applications is attributed to its nascent stage and the challenge of capturing CO2 from smelting flue gases, which are characterized by low CO2 concentrations and higher capture costs. Clean hydrogen production CO 2 transport and storage Current capacity used 14.3 GW 223 GW 9.5 MTPA 0 MTPACapacity required (2050) 86 MTPA 0 MTPA Clean power generationInfrastructure for decarbonization capacity FIGURE 56 Source: Accenture analysis based on MPP . 8 Net-Zero Industry Tracker: 2024 Edition