TPG, Samsung-Backed Carbon Capture Project Leads in EU Funds - Bloomberg
A U.K. carbon-capture project part- owned by Samsung Group and developed by a British company held by TPG Capital is first in line for a share of as much as 1.5 billion-euros ($1.8 billion) in European Union funding. The Don Valley Power Project in northern England proposed by 2Co Energy Ltd. leads a list of ventures selected as candidates in a European Commission funding program, the commission said today in a report on its website. Four of the eight projects on the list are based in the U.K. Britain’s coalition government is ahead of other European countries having separately offered 1 billion pounds ($1.5 billion) of funding for the technology, which gathers emissions for underground storage. Without CCS, the U.K may fail to meet climate goals, Energy Minister Charles Hendry said in February.
Thursday, July 12, 2012
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