EU approves €1.1bn Danish CCS support scheme
State government offers 20-year CfD to support deployment of carbon capture as key decarbonisation tool
Denmark has gained European Commission approval to proceed with a €1.1bn ($1.2bn) contract-for-difference (CfD) subsidy scheme aimed at accelerating CCS investment. The scheme is expected to enable the capture and storage of at least 0.4mn t CO₂/yr from 2026 and 8mn t over the 20-year contract offered to the successful bidder. The CfD will pay out up to €54.9mn/yr, depending on the spread between EU allowance prices and the estimated cost per ton of operating the facility, excluding capital costs. The contract will be awarded via a competitive tender that is expected be completed this year. “This €1.1bn scheme will enable Denmark to capture and store a significant amount of CO₂, preventing i
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