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Poland Makes Bid for EU Money to Fund CCS
  Poland
Wednesday, March 11, 2009
Source: POINTCARBON
Article Type: Reprinted
 
Polish power companies yesterday pitched for €2 billion from the EU to fund CCS projects.
 
Delegates from the commission’s environment as well as energy and transport departments heard two Polish presentations, which are looking to tap into two funds earmarked for carbon capture and storage (CCS) technology.
 
"We are looking for a billion for each of the projects," Andrzej Siemaszko, who represented the Polish government at the meeting, told Point Carbon today.
 
The first is a joint operation between ZAK, a chemical company, and PKE, the country’s second largest power generator.
 
The plant will cost around €1.3-1.5 billion ($1.66-1.91 billion) to build, and will cut 92 per cent of its total carbon dioxide emissions, about 3 million tonnes a year.
 
However, these estimates do not include pipeline and storage costs of the carbon.
 
The second is a CCS plant at Elektrownia Belchatow, Europe’s largest coal power plant.
 
PGE, the owner of the plant, plans to build a CCS plant at the new 858-MW lignite-fired unit that is currently being built by Alstom for Elektrownia Belchatow.
 
EU money can come from two sources. Some €1.15 billion has been earmarked for CCS development under a €5 billion stimulus package, of which the Belchatow plant expects to receive €200 million.
 
There is also money from Europe’s emission trading scheme, after EU leaders agreed to use 300 million allowances to companies that store and capture carbon dioxide underground.
 
Money raised from the EU allowances can only be used to finance 50 per cent of an individual CCS project, with the remainder co-financed by national governments and power generators.
 
The same 50 per cent rule will likely apply to the €1.15 billion in the stimulus package, sources said, although this has yet to be finalized.
 
The meeting was held by the Zero Emission Platform, a non-government organization, which represents power companies, research organizations, governments and EU bodies. 
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