UK finance minister Jeremy Hunt
UK backs CCUS with £20bn funding pledge
Government commitment reassures investors and paves way for first two industrial clusters
The UK government has committed up to £20bn ($24bn) to support the deployment of CCUS in a move that enables the development of two planned low-carbon industrial clusters to go ahead. The first tranche of funding will go to CCUS projects to be deployed within the UK’s 'track one’ East Coast and Hynet clusters. A shortlist of projects applying for funding will be published later this month. Further CCUS projects will be able to enter a selection process later this year for inclusion in those clusters. “I am allocating up to £20bn of support for the early development of CCUS, starting with projects from our East Coast to Merseyside to North Wales—paving the way for CCUS everywhere across the U
Also in this section
30 April 2025
State administrations are using a flawed metric to justify green energy projects
29 April 2025
Spain’s unprecedented blackout highlighted the risk for green hydrogen producers with exposure to Europe’s creaking power grids
24 April 2025
Liverpool Bay project on track for 2028 startup as Italian energy company reaches financial close with government for CO₂ transport and storage network
21 April 2025
Agreement on a two-tier emissions trading scheme does not go far enough to meet IMO GHG reduction targets, say observers
