EC inks EUR 1.1bn in grant offers for seven local weather transition tasks – EQ Mag Pro
The European Fee (EC) immediately signed the agreements for seven large-scale tasks deploying low-carbon applied sciences to separate between them a complete of EUR 1.1 billion (USD 1.2bn) in grant funding from the EU Innovation Fund, financed by revenues from the EU’s Emissions Buying and selling System (ETS).
These are the primary large-scale tasks underneath the Innovation Fund and were selected in November 2021. They embody initiatives in sectors similar to hydrogen, metal, chemical substances, cement, photo voltaic vitality, biofuels and carbon seize and storage (CCS).
The Sustainable Hydrogen and Restoration of Carbon venture (SHARC) will permit Neste Oyj’s (HEL:NESTE) Porvoo refinery in Finland to maneuver away from the manufacturing of fossil-fuel-based hydrogen in direction of each inexperienced and blue hydrogen. It’s getting an EUR-88-million grant.
With a EUR-106-million grant, the Ecoplanta venture in El Morell, Spain, will lead to a first-of-a-kind industrial plant for the manufacturing of methanol in Europe that can use waste in any other case going to landfills.
The Hydrogen Breakthrough Ironmaking Expertise Demonstration venture (Hybrit Demonstration) venture in Sweden, awarded EUR 143 million, goals to switch fossil-based applied sciences with alternate options similar to inexperienced hydrogen. It should assist SSAB AB (STO:SSAB-A) to introduce fossil-free metal to the market in 2026.
The awarded tasks additionally embody the TANGO initiative of Enel Green Power to drastically upscale a photo voltaic manufacturing unit in Italy to an annual capability of three GW.
The K6 Programme will remodel a French cement plant in Lumbres to supply the primary carbon-neutral cement in Europe by a mix of an hermetic kiln and cryogenic carbon seize expertise.
An extra two tasks will create a bio-energy carbon seize and storage (BECCS) facility at an present warmth and energy biomass plant in Stockholm, and a CCS worth chain within the Port of Antwerp, Belgium.
(EUR 1 = USD 1.110)
Source: renewablesnow
