EC shortlists low-carbon projects for €1.5 billion investment

Posted at July 13, 2012 » By : » Categories : News » Comments Off on EC shortlists low-carbon projects for €1.5 billion investment

The European Commission (EC) yesterday announced its preliminary shortlist of low-carbon projects in the running for up to €1.5 billion in funding.

Most of the selection work for the €1.3-1.5 million NER300 funding programme is done, says the EC, and it is now time to take stock of the leading contenders.

The UK is in with a good chance of securing funding for at least one carbon capture and storage development, with the Don Valley Power project leading the field. But also in the running are Progressive Energy’s Teeside project; BOC, Drax, Alstom and National Grid’s oxyfuel demonstration; and C.GEN’s Killingholme power station in Yorkshire. SSE’s Peterhead gas CCS project only makes it onto the reserve list.

However, there is competition from Poland’s Belchatow CCS project and a green hydrogen development in the Netherlands, along with proposals from Italy and France.

The EC says that some three CCS projects are likely to be funded along with 16 renewable energy initiatives. But the exact amount of funding will depend on the outcome of the sale of 200 million allowances from the new entrants’ reserve of the EU Emissions Trading System.

The UK fares less well in the renewable energy category with only ScottishPower’s tidal energy project in the Sound of Islay in Scotland in the running and Marine Current Technologies’ Kyle Rhea project on the reserve list.

Bioenergy projects in Sweden and Italy dominate the top spots along with a few wind projects, two geothermal projects in Eastern Europe and a handful of solar photovoltaic and concentrated solar power projects in Greece and Portugal.

The Commission wants member states to confirm projects and national co-funding arrangements by early October so that the final decision can be made by the end of the year.

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Related stories:
Europe to set course towards a green economy (11-Jun)
EC calls for coordinated approach to renewables (8-Jun)
UK confirms 14 projects have applied for EU CCS and renewables funding (18-Feb 2011)

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