EU approves €1.1bn Danish CCS support scheme
State government offers 20-year CfD to support deployment of carbon capture as key decarbonisation tool
Denmark has gained European Commission approval to proceed with a €1.1bn ($1.2bn) contract-for-difference (CfD) subsidy scheme aimed at accelerating CCS investment. The scheme is expected to enable the capture and storage of at least 0.4mn t CO₂/yr from 2026 and 8mn t over the 20-year contract offered to the successful bidder. The CfD will pay out up to €54.9mn/yr, depending on the spread between EU allowance prices and the estimated cost per ton of operating the facility, excluding capital costs. The contract will be awarded via a competitive tender that is expected be completed this year. “This €1.1bn scheme will enable Denmark to capture and store a significant amount of CO₂, preventing i
![](/images/white-fade.png)
Also in this section
21 July 2024
Awards experience 20% increase in nominations this year, with submissions from 27 countries
18 July 2024
Platform developed at Scottish university uses advanced simulations and machine learning to find most cost-effective and sustainable combinations of materials for use in carbon capture
18 July 2024
Stockholm Exergi agrees to one of world’s largest deployments of CO₂ liquefication technology to enable transport of emissions captured from biomass power plant
11 July 2024
Watkins will leverage her financial acumen and strategic insight to lead Gulf’s commercial initiatives across media, events, and market intelligence