Companies: Eni UK strengthens its role in the UK’s decarbonization process

Rome, July 09 15:17 – (Nova Agency) – Eni UK, in the role of consortium lead that will develop the integrated HyNet North West project, has submitted documents to participate in the tender launched by the British Government for “Block Sequencing for the Use of Carbon Capture and Storage Deployment: Phase 1” which in a successful case will allow Eni UK and the project partners to access The so-called Carbon Storage Infrastructure Fund (CCfi), which provides a £1 billion non-repayable loan to build four projects to capture and store around 10 million tonnes of CO2 by 2030. This was announced in a press release from Eni. The process includes two tranches with different start times, one by 2025 (track one projects) and one by 2027 (track two projects). The fund is part of a broader £12 billion investment plan provided by the British government’s “Ten Point Plan” in November 2020 with the aim of leading the UK towards an energy transition and promoting a “green industrial revolution”. In addition to CCS, the plan also intends to promote other technologies such as offshore wind, blue and green hydrogen, nuclear power, electric mobility and home energy efficiency. (continues) (com)

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