The funding for the drive comes from revenues from the sale of emission allowances in the EU Emissions Trading System. According to the Commission, the private sector will add 900 million euros to the projects.
The two Estonian projects both fall under the bio energy category, utilizing pyrolysis to create bio oils near a factory in Pärnu and bio charcoal in Rakke, near Rakvere.
The selected projects announced today will increase the annual EU renewable energy production by almost eight terawatt hours. This energy amount corresponds to the combined annual electricity consumption of Cyprus and Malta. The CCS project will capture 1.8 million tonnes of CO2 per year, equivalent to taking over a million cars off the roads. Together with the 20 projects from the first call, NER 300 projects will also create several thousand jobs during the construction and operation phase.