Germany’s €5bn ($5.4bn) Contracts for Difference (CfD) scheme to support industrial sectors to decarbonise with hydrogen, carbon capture and electrification has been approved by the European Commission.
The Climate Protection Contracts are a 15-year two-way carbon CFD aimed at supporting fuel switching and electrification in sectors like cement, chemical and steel production.
Projects will be subject to the EU Emissions Trading Scheme (ETS) and musy cut at least 60% of emissions in the first three years and 90% by the end of the support.
Each will be selected through a competitive bidding process and ranked based on the lowest aid amount requested per tonne of CO2 avoided – meaning only the cheapest technologies will succeed.
... to continue reading you must be subscribed
