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Research on CO2 storage to enjoy increased funding
Publish date: January 13, 2015
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Research on CO2 storage to enjoy increased funding
On 17 December 2014 the UK Department for Energy and Climate Change (DECC) made an announcement for an additional €3 million to be directed towards the further evaluation of CO2 storage sites beneath the North Sea, thus reinforcing the UK’s leadership position in the deployment of Carbon Capture and Storage (CCS) technology. Bellona, who recognises the availability of CO2 storage as the linchpin of CCS deployment, welcomes the funding announcement.
The €3 million will help to identify the next phase of storage sites, which will be suitable for the secure and long-term storage of CO2 captured at coal and gas power plants, as well as at energy-intensive industries.
The funding will be provided through DECC’s Innovation Fund and delivered by the Energy Technologies Institute (ETI). The ETI has issued a call for proposals to be submitted by 5 February 2015, with a view to awarding contracts and beginning work by spring 2015.
Bellona recognises the importance of initiating work as soon as possible in order to ensure storage sites will be ready and available. In fact, in its recently launched report examining the development of the CO2 storage industry in Europe, Bellona argues that the first large scale investments in commercial storage should take place in 2019.
“What this finding shows is that what some consider early deployment is in fact timely deployment if we are to reach EU Energy Roadmap 2050 goals” notes Keith Whiriskey, Climate Technologies Policy Manager at Bellona Europa and author of the report.
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