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CCS in Denmark Gets a New Boost With Tendering Procedure Allocating DKK 28.7 Billion Under the CCS Fund
12th October 2024
On 9 October, the Danish Energy Agency published details of a new tendering procedure which will be used to grant DKK 28.7 billion (approximately USD 4.2 billion) to CCS, confirming Denmark’ s commitment to steadily pursuing the technology as part of the country’s ambitious climate goals.
The tendering procedure marks a new milestone for the further advancement of the CCS value chain in Denmark and is expected to support the country in achieving the highest emissions reduction while transitioning towards climate neutrality.
The subsidy, which is designed to cover the costs related to the capture, transportation and geological storage of fossil, biogenic or atmospheric CO₂, will be paid out over a 15-year contract period under Denmark’s CCS Fund. The latter represents the third fund administered by the Danish Energy Agency to drive CCS deployment. It is expected that it will support the reduction of 2.3 Mtpa of CO₂ emission in the country from 2030.
The announcement follows a public consultation process undertaken by the Danish Energy Agency to gather feedback and recommendations on the design of tender documents and specifications under the CCS Fund.
The tendering procedure will remain open until March 25, 2025.
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