Denmark aims to drive investment in CCS
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
Also in this section
5 December 2024
Completion of phase-one construction expected in 2027 as technology providers SLB and Linde take equity stakes in one of world’s largest CCS projects
5 December 2024
The new edition of Outlook, our annual publication about the year ahead for energy, produced in association with White & Case, is available now
27 November 2024
The agreement by the parties to raise at least $300b/yr for developing countries by 2035 was derided as a betrayal by the Global South, but the UN urged pragmatism
26 November 2024
Agreements on how to operationalise both Article 6.2 and 6.4 will mean countries can start to trade emissions reductions as part of their contributions to the Paris Agreement
