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Briefing on the EU Innovation Fund and the Implications for CCUS Projects

1st Report of the Thematic Working Group on: Policy, Regulation and Public Perception

Abstract

This report outlines the key modalities and procedures for the Innovation Fund, and focuses on the potential funding implications for CCUS projects. The assessment of the suitability of the Innovation Fund for CCS projects has been completed based on discussion during a workshop hosted by the EU CCUS Projects Network in October 2019. This session was part of the Network’s Thematic Group on Policy, Regulation and Public Perception. The session was held according to Chatham House rules to allow the projects present to exchange viewpoints and ideas freely.

Broadly speaking, it is hoped that the Innovation Fund Call for Proposal documents expected in mid-2020, will provide more information on how applicants should approach some of the key evaluation criteria, namely, calculating emissions avoidance for part-chain CCS and CCU projects, demonstrating project maturity as well as project innovativeness. Furthermore, there remains a concern that the costs for developing sufficient contingent storage sites could be overlooked by the Innovation Fund, and EU policies directed towards CCS in general. Finally, whereas there does not seem to be any regulatory barriers to blending Innovation Fund financing with Member State subsidies, the asynchronous timing between the planned final investment decisions (FIDs) of some of the more advanced projects, and the outcomes of the Innovation Fund (expected in 2022), means that certain projects may not be able to benefit from this.

Funding source: EU CCUS PROJECTS NETWORK (No ENER/C2/2017-65/SI2.793333)
Countries: European Union
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2020-01-09
2021-10-24
http://instance.metastore.ingenta.com/content/104
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