Jennifer Granholm, US Secretary of Energy
US launches $2.52bn CCS funding programme
Cash for large-scale pilot and demonstration projects aimed at decarbonising power generation and hard-to-abate industries
The US Department of Energy (DoE) has launched a $2.52bn funding scheme aimed at unlocking investment in large-scale CCS for the power sector and hard-to-abate industrial sectors. The funding, which is to be financed under the Bipartisan Infrastructure Law, will be offered via two streams: the Carbon Capture Large-Scale Pilots Program and the Carbon Capture Demonstration Projects Program. The DoE’s move highlights the Biden administration’s determination to accelerate the deployment of CCS and other carbon-management tools as part of its push for net zero by 2050. It will put further pressure on the EU and other national governments to ramp up incentives for CCS. $820mn – Funding avail
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
Recent project approvals have yielded millions of carbon credits linked to the plugging of the US' abandoned wells
