The Climate Group and the Ecofin Research Foundation are working on a joint initiative to assess, and possibly stimulate, private sector financing for first generation industrial scale
carbon, capture and storage (CCS) projects. This brief report provides an overview of initial findings from a European perspective.
(….) Demonstrations helped by the private sector… but for two not eight projects. Limited
private sector funding means that a multitude of CCS demonstration projects cannot be pursued. It is generally agreed that government sources will provide part of the funding for CCS demonstration projects and that will be topped up by private sector sources. However, the initial findings of our initiative indicate that private sector funds will be adequate to support maybe just two CCS demonstrations – and that’s across the whole of Europe.
This is clearly a long way short of the UK’s plans to have up to four demonstration projects, let alone Europe’s ambition to see eight and hopefully twelve demonstration projects.