The two projects – GETICA CCS and Danube Green Island Algae will be funded under NER300 financial instruments and will require about EUR 500m, reports actmedia.
The financing will be provided for commercial demonstration projects, which aim to environmentally safe capture and geological storage of carbon dioxide, as well as demonstration projects of innovative renewable energy technologies under the scheme for greenhouse gas emission allowance trading within the European Community.
The GETICA CCS project is expected to capture and store about 1.5 million tonnes of dioxide a year.
Danube Green Island Algae project is expected to capture carbon dioxide from a 300MW power plant using biomass, which will then be used for an algae farm and the resulting bio-liquid will be used to supplement the electricity output by 20MW.
