The European Commission announced that Stockholm Exergi’s project for negative emissions – BECCS (Bio Energy Carbon Capture and Storage) – has advanced to the last step in the selection process to receive support from the European Innovation Fund.
Through BECCS, Stockholm Exergi is funding and building a full-scale BECCS-plant connected to the existing biomass CHP (Combined Heat and Power) plant KVV8 in central Stockholm, expected to be operational in 2025.
The BECCS facility will have a capture capacity of close to 800,000 tonnes of biogenic CO₂ per year. Contractual negotiations for transport and storage of the captured CO₂ are on-going and expected to be finalized in due time before the project’s FID (Final Investment Decision) in February 2023. The captured CO₂ will be permanently stored in sub-sea geological aquifers or in depleted oil and gas fields in the North Sea.
The biogenic carbon capture project
The BECCS facility at KVV8 is Stockholm Exergi’s first large-scale biogenic carbon capture project. Based on the experience and successful outcome of this first project, the company plans to develop additional BECCS facilities at its other bio-CHP and waste incineration plants after 2030. The potential total capture capacity could therefore reach up to 1.7 million tonnes of biogenic CO₂ by 2045, based on current energy facilities.
The EU Innovation Fund is one of the world’s largest funding programs for the demonstration of innovative low-carbon technologies. It will provide around EUR 20 billion of support over 2020-2030, aiming to bring industrial solutions that decarbonize Europe to the market and support its transition to climate neutrality.
During the first round, a total of 311 projects applied for funds, and 7 projects were selected to share the EUR 1.1 billion allocated in this first round. The allocation decision by the EU Commission is subject to the signing of a formal funding agreement between the two parties, which is expected to take place during the first quarter of 2022.
Source
AB, C., 2021. Stockholm Exergi’s project for negative emissions receives EU support. [online] Prnewswire.co.uk. Available at: <https://www.prnewswire.co.uk/news-releases/stockholm-exergi-s-project-for-negative-emissions-receives-eu-support-853714198.html> [Accessed 16 December 2021].