The project, based at Drax power station in North Yorkshire, is competing with 32 renewables projects for a share of an estimated €700 million pot under phase two of the NER300 programme.
If White Rose is awarded European funds, that is expected to displace rather than supplement cash from the UK government’s £1 billion CCS competition.
White Rose is one of two projects selected to take forward detailed feasibility work under the UK competition. The other is at SSE’s Peterhead gas-fired power plant in Aberdeenshire.
The NER300 scheme was set up to use the proceeds of the sale of 300 million EU emissions allowances (EUAs) to support CCS development. It is the joint work of the European Commission, European Investment Bank and member states.
It was extended to “innovative” renewable energy technology as it became apparent both that the carbon price had fallen too far to support many expensive projects and CCS schemes were not ready to meet the competition’s criteria. No CCS projects were successful in the first call.
The second phase will draw funds from the sale of 100 million EUAs and carry over €275 million unspent from the first round.