UK Don Valley project leads EU funding bid
The European Commission has announced that 2Co Energy's Don Valley CCS Project currently leads the EU's funding contest.
2Co's 650MW Don Valley project in South Yorkshire, UK now leads a list of European CCS projects competing for a share of an estimated €1.3 to €1.5billion funding pot.
The NER300 funding programme is one of the world´s largest funding programmes for low carbon energy commercial demonstration projects and a key component of the EU´s strategy to tackle climate change. It also is one of the EU´s major policy initiatives to stimulate growth and employment across the EU.
The Don Valley CCS Project has already won €180m in European funding making it one of the most advanced CCS projects in Europe. Recently, Samsung C&T and BOC each agreed to take an equity stake in the Project.
Lewis Gillies, Chief Executive, 2Co Energy Limited said: “It will be several months before any real winners can be confirmed but these EU rankings show that the UK is without doubt the best place in Europe to commercialise carbon capture and storage. For our Don Valley Project to lead this CCS funding list is a major testament to the world-class team we have assembled and underpins the financial and technical integrity of our cost-competitive business model which we hope will become a blueprint for how CCS is deployed the world over.”
For more information about upcoming CCS projects in Europe ensure you secure your place at one of our upcoming energy events:
- 3rd Annual CCS Forum (04 December, London)