The UK’s Drax power station was set to receive a grant for CCS, but the project was never delivered. (Drax)
A new report by the European Court of Auditors has advocated greater EU funding for carbon capture and storage (CCS), but higher carbon prices and well-designed national support schemes will also be needed to commercialise the expensive technology.
The Luxembourg-based court – a ‘financial watchdog’ that monitors EU spending and revenues – said funding from the EU’s Innovation Fund would likely be needed to accelerate a roll-out of carbon-capture projects in Europe. The Innovation Fund is expected...
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