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A CCS installation in non-EU member Norway. There is currently no CCS installation operational in the EU (Photo: Kjetil Alsvik/Statoil)

EU to have third attempt at financing CO2 storage

The European Parliament is due to vote on legislation on Tuesday (6 February) which would set up a potentially multi-billion euro fund to support projects in the field of innovative renewable energy, carbon capture and storage (CCS), and recycling CO2 as a resource.

However, the final criteria of the fund will be decided by the European Commission, in a legal act which MEPs would only have the power to veto or rubber-stamp.

The 'Innovation Fund' will be deployed to give an incenti...

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