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European Commission approves Danish scheme to support the roll-out of CCS in the country
13th January 2023
The European Commission has approved €1.1 billion to go towards a Danish scheme which will contribute to the roll-out of carbon capture and storage (CCS) technologies within the country.
This measure confirms the crucial role of CCS as a viable and effective climate mitigation solution necessary to reduce greenhouse gas emissions and achieve a net-zero future.
According to the Commission, the scheme is expected to drive investments in CCS, reduce costs for its future application and facilitate the development of a commercial CCS market in Denmark. This will contribute to the achievement of Denmark's ambitious climate targets and Europe's decarbonisation effort to reach carbon neutrality by 2050, in line with the EU's strategic objectives set out in the European Green Deal.
The assessment and approval of the scheme has been conducted under the Commission’s EU State aid rules which enable EU countries to support the development of certain economic activities, including those aimed at reducing or removing CO2 emissions.
Companies active in any industrial sectors, including the waste and energy sectors, will be able to take part in the competitive tendering procedure expected to be concluded in 2023.
Read here for additional details.