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EU to spend €1.15 billion on CCS - update
Projects / Policy, Mar 10 2009 (Carbon Capture Journal)
- The EU proposal to reallocate $5 billion of unspent money including €3.5 billion to clean energy projects is now in doubt.
There is now no clear indication of where the money will come from, after it was decided that the unspent money from the 2008 budget is 'legally unavailable'.
Several member states also raised objections as to how the money would be distributed, but according to EurActiv.com agreement is now more likely as many of these demands have been taken on board.
EurActiv reports that several countries have received more money, while the amount available for CCS has been reduced by €100 million.
There is further disagreement over the timeline of how the funds would be spent. France favours mature projects that could be implemented quickly, while the UK would prefer a staged approach that would give help to CCS projects that may not be ready in time as they must wait for regulatory obstacles to be removed.
The proposal will be discussed further in March with agreement expected by April.
Germany, the Netherlands, Poland, Spain (with Portugal) and the UK will each receive €250m to apply CCS to coal fired power plants.
In the UK the Kingsnorth plant in Kent, Longannet in Fife, Tilbury in Essex and Hatfield in Yorkshire would all share the €250m.
