18 Feb 2011 10:02:06
Strong UK response to EU renewables and CCS funding scheme
British companies have shown a strong level of interest in the NER300 scheme, energy minister Charles Hendry has claimed, with 14 applications being submitted overall.
The €4.5 billion (£3.7 billion) to €9 billion fund was announced in November last year and intends to provide funding for at least eight carbon capture and storage (CCS) and 34 renewable energy projects.
Parties interested in the scheme had three months to submit their bids at the national level and Mr Hendry confirmed nine CCS submissions and five applications for innovative renewables have been received.
The bulk of the applications for CCS (four) are in the Humber region, with a further three based in Scotland. Seven relate to coal-fired plants, while two projects are for gas-powered stations.
Scotland is also home to four of the renewable energy projects – three for tidal stream and one for wave power- while the other is based in the north-east of England.
Mr Hendry said: "The strong level of interest received for CCS projects in particular is heartening – it shows that UK industry is keen to move forward in the development of CCS."
The government must decide which proposals will be submitted to the European Investment Bank by May 9th.