EU CCS Funds In Shambles

An EU funding scheme for the development of Carbon Capture and Storage has been left in a shambles today as it was confirmed the only potential project still in the running for funds has pulled out of the process. 
 
With the withdrawl of the ArcelorMittal project from France, there are now no projects left for the 1.5 billion Euros earmarked by the EU for the first round of CCS projects via the "NER300" budget.
 
Previously, the Peterhead project was disqualified for the NER300 funds as the UK Government were unable to provide the required financing guarantees in time. 
 
Energy policy is under the current constitution, reserved to the UK government.
 
Scotland's sole representative on the European parliament's Energy Committee Alyn Smith said:

"I said some months ago that NER300 was star crossed from the start but the delays, confusion and dither over CCS at member state level have now turned tragedy into farce.  I
t is flatly soul destroying that a 1.5bn budget allocated to potentially planet saving experimental technology can have no applicants at all.  There was every willingness on the part of the European Commission to make it work, despite the difficulties, but the UK government as our representative failed to get Peterhead to the front of a queue of zero. The development of CCS at Peterhead has been stalled because the UK Government dragged their feet and clearly didn't want to prioritise the project.
 
"This is despite the UK Government including CCS technology in their plans to meet emissions reduction targets, and earmarking 1 billion pounds for this purpose. In Scotland we have great potential for the development of CCS technology, but while Westminster acts on our behalf in Europe, we could have done better.  Objectively, with no other bids in the running we could have led the EU on this technology.
 
"We're now hearing yetmore rehashed warm words and sympathy, and I don't buy it.  With the collapse of NER300 we're now hearing great plans for its second round, which should surely be renamed the Second Coming.  The UK government has claimed the UK will benefit from the second round of funding on the NER300 however there are no guarantees and the only thing that is clear is that the funds available will be significantly lower.
 
"The European Commission, together with the European Investment Bank and EU member states, jointly operate the NER300 financing competition in which governments can shortlist renewable and CCS projects for European subsidies. EU member states can apply for NER300 funding to finance half of a CCS project if the national government guarantees funds to cover the remaining 50 percent of the costs.  
 
For more information on NER300:
http://www.ner300.com/