Feb. 29 (Bloomberg) -- The European Union said a storage site off the coast of the Netherlands at a depth of more than 3 kilometers (1.9 miles) was suitable for a carbon capture project.
“The opinion confirms the suitability of the chosen storage location for the permanent storage of CO2, as was demonstrated by a detailed characterization and assessment of the storage site and complex,” the European Commission in Brussels said today in a statement on its website.
The project was awarded 180 million euros ($242 million) of funding under the European Energy Programme for Recovery, the EU said.
After more than a decade on the political agenda, no carbon capture plant is operating at a commercial scale. While smaller facilities are demonstrating that so-called CCS technology can work, none is attached to a plant generating more than about 50 megawatts of electricity, which is less than 10 percent of the capacity of the average U.S. nuclear power reactor.
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