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.
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