CCS and renewable projects bid for EU funding
- Published on Wednesday, 02 March 2011 11:18
- Posted by Scott Buckler
A total of 14 projects based in the UK have applied for funding through the EU's New Entrant Reserve scheme, it has been announcedThe fund is worth between 4.5 billion (£3.8 billion) and 9 billion and will provide support for carbon capture and storage (CCS) and renewable projects throughout Europe. Of the 14, nine are CCS projects.
Energy minister Charles Hendry welcomed the new projects, saying that it "confirms the lead that the UK is taking in this critical technology".
Meanwhile, Dr Jeff Chapman, chief executive of the Carbon Capture and Storage Association, highlighted the benefits of CCS, claiming that it is an "important part of the puzzle" in new energy.
"Into the future, we can only operate fossil fuel power stations if we can control the emissions from them, so CCS is an absolutely crucial component for the future of power generation, including renewable energy," he remarked.
Dr Chapman added that the UK has shown a bigger commitment to new energy than other member states as it has put up around half of the projects for the scheme.