The recently adopted Net Zero Industry Act (NZIA) stipulates a legal objective for the EU to enable an annual 50 million tonnes (50 Mtpa) of CO2 to be stored underground by 2030. In order to support the ambitious climate goals a further scale-up to over 250 Mtpa of permanent underground storage in the EU will be required by 2050. Aramis, once fully ramped-up, will unlock more than 20 Mtpa of storage capacity, therefore making the project an important contributor to deliver this EU ambition. The Aramis project has been awarded Project of Common Interest (PCI) status by the EU already in 2021, which is a recognition of this importance.
Projects that have PCI-status are entitled to apply for EU funding through the Connecting Europe Facility (CEF-E) which helps to support the development of cross-border energy infrastructure projects. The two other main funding scheme that EU has established and which are also highly relevant for projects in the CCS value chain are:
- Horizon Europe for Research & Innovation tackling climate change and boosting EU competitiveness and growth
- Innovation Fund (IF) for highly innovative technologies and flagship projects that can bring about significant emission reductions
€124mln grant awarded to Aramis
Last year the Aramis project has prepared an application for financial support under the CEF-E. In December 2023 the EU proposed to grant the Aramis a subsidy of €124mln for the construction of the Aramis pipeline and the offshore distribution platform.
In June the formal Grant Agreement has been signed: CEF Energy: CINEA has signed grant agreements with 8 awarded projects under the PCI 2023 Call - European Commission (europa.eu). In total 5 CCS projects have received support, including a €33mln grant for the CO2next project that is also an integral part of the Aramis CCS value chain. These grants will contribute to more cost-effective development of the cross-border CCS-value chain and to optimize the tariffs for the benefits of European industries, which are the end users of the system.
