The European Commission on July 2 approved, under EU State Aid rules, Sweden’s plans to provide up to EUR 3 billion in subsidies to support carbon capture and storage (CCS) projects focused on biogenic CO2. Such projects would sequester biogenic CO2 released during the combustion or processing of biomass, often referred to as bioenergy with carbon capture and storage (BECCS).&nbsp;Under Sweden’s subsidy scheme, aid will be awarded through a competitive bidding process, with the first auction expected to take place this year. The auctions will be open to companies that carry out an activity in Sweden that emits biogenic CO2 and implement projects with a capacity to capture and store at least 50,000 metric tons of carbon dioxide per year.&nbsp;Selected projects will receive 15-year long contracts, with beneficiaries receiving a grant per metric ton of biogenic CO2 that is permanently stored. The aid received by the selected parties will be adjusted taking into account possible revenues that might stem from the projects, such as voluntary carbon removal certificates, as well as other public support received for the same project. According to the European Commission, the scheme will run through the end of 2028.Additional information is available on the European Commission <a href="https://ec.europa.eu/commission/presscorner/detail/en/ip_24_3583">website</a>.

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The European Commission on July 2 approved, under EU State Aid rules, Sweden’s plans to provide up to EUR 3 billion in subsidies to support carbon capture and storage (CCS) projects focused on biogenic CO2. 

Sweden wins approval for BECCS subsidies

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