Cement producer Norcem and waste-to-energy plant Fortum Oslo Varma receive up to 2.1 billion euro from EFTA Surveillance Authority (ESA) for capturing and storing CO2. The CCS Full-Scale project is part of Norway’s efforts to reduce its carbon footprint.
The approved project would allow for the establishment of carbon capture facilities at Norcem, a cement factory in Brevik, and Fortum Oslo Varme, a Waste-to-Energy plant. The captured CO2 is then to be transported and stored deep below the seabed in the North Sea. This part of the process is to be carried out by a joint venture between Shell, Total and Equinor, known as Northern Lights.
The Full-Scale CCS Project promises to become the first of its kind to go live in Europe. It has a budget of up to 2.57 billion euro, which will cover construction and 10 years of operation. The Norwegian government would cover around 80% of the project’s estimated budget.
Scaling up CCS
Carbon Capture and Storage (CCS) has been recognised by the European Union as key to reducing the harmful environmental effects of carbon-intensive sectors where emissions are difficult to avoid.
By supporting the project, the Norwegian government aims to facilitate further scaling up of CCS globally. By sharing knowledge and experience. The project will establish infrastructure for capture, transport and storage of CO2 emissions. This can pave the way for future investments, innovation and technology in CCS as a climate-change mitigation tool.
“This CCS project is a groundbreaking step towards tackling climate change – an issue that affects all of us. Protecting the environment is at the heart of the European agenda. And ESA is pleased to work with Norway and the European Commission to find ways to support this important goal”, said Bente Angell-Hansen, President of ESA.