The European Commission has approved the award of €131 million under the Connecting Europe Facility (CEF) funding scheme, as announced in December 2023.
June 12 2024
“The approval of the proposed CEF funding confirms Northern Lights’ role in the EU’s 2030 decarbonisation objectives and will enable the next expansion phase of our project”, says Managing Director Tim Heijn.
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According to the news announcement from The Commission, “This is a significant milestone for these projects to advance in their implementation”.
Northern Lights is one of four CO2 transport and storage projects that was awarded CEF funding and is seen as an integral part of developing a Europe-wide carbon value chain before the end of the decade.
“We are ambitiously planning for growth to offer CO2 transport and storage services to industry across Europe. Northern Lights is ready to inject 1.5 million tonnes CO2 this year and are planning to expand to the capacity with an additional 3.5 million tonnes for the next development phase”, says Heijn.
The Norwegian Continental Shelf has the highest theoretical storage capacity in Europe, and Norway will play an important part in offering the necessary CO2 storage to reach European objectives for carbon capture and storage as part of the climate solution.
Read more about the grant agreements CINEA has signed.
CINEA has signed grant agreements with 8 awarded projects under the PCI 2023 Call
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media@norlights.com
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Read the full news release here
