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Jan. 23 (Bloomberg) — Experimental projects to capture and bury carbon dioxide from European power plants may get 1.5 billion euros ($1.9 billion) in new subsidies to cover start-up costs, a member of the European Parliament said today.
Five to seven demonstration projects may be eligible for funds from a 5 billion-euro European Union energy package thats still being negotiated, Chris Davies said in an interview at a Berlin conference. Poland is seeking money to host two of the projects, said Davies, who represents Britain in the parliament.
Europe is pioneering new technology to protect both the environment and its most polluting power plants that burn coal, one of the dirtiest fuels for making electricity. Germanys RWE AG and Vattenfall Europe AG, along with Electricite de France SA and Italys Enel SpA, are among the continents biggest consumers of coal to supply power. Heat-trapping gases from power plants and vehicles add to the greenhouse effect that warms the planet.
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