25th Nov 2015 15:14
LONDON (Alliance News) - Department for Energy and Climate Change on Wednesday said the GBP1.0 billion which had been ringfenced for carbon capture and storage projects in the UK is no longer available.
The department said this means the CCS Competition, a tender to find projects to which to provide GBP1.0 billion in funding, has been scrapped.
The DECC said it will "engage closely" with the bidders on the scheme to clarify the implications for them of the decision.
The four bids which had been short-listed to receive the funding including ones involving listed companies such as Petrofac Ltd, National Grid PLC, Royal Dutch Shell PLC, SSE PLC, Premier Oil PLC and Drax Group PLC.
By Sam Unsted; [email protected]; @SamUAtAlliance
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