THE government will not get EU funding under the first round of a subsidy scheme for carbon capture and storage (CCS) projects because it has failed to provide the required financing guarantees, EU sources said yesterday.
CCS technology captures carbon emissions from power plants before they enter the atmosphere and stores them in long-term storage sites. The British government has included CCS technology in its plans to meet emissions reduction targets and says it has earmarked £1bn to fund a pilot CCS programme.
One EU source said no British projects had qualified for the competition “because of lack of funding detail”. The Department of Energy and Climate Change said it had not yet been informed of the decision.
City A.M. Reporter