The Danish Energy Agency has launched tenders worth $4.2bn to build a carbon capture and storage network.
The tenders cover the capture, transportation and geological storage of fossil, biogenic or atmospheric carbon dioxide over a 15-year contract period.
Winning companies will have to commission their facilities by 1 December 2029, and begin the full capture and storage process by the end of 2030.
Peter Christian Baggesgaard Hansen, the agency’s deputy director general, commented that the tender would “ensure that we get the highest carbon dioxide reductions from the funds allocated by politicians”.
Carbon capture and storage is one of the most important tools for achieving national and international climate targets. The European Commission has recommended capturing and storing approximately 50 million tonnes of carbon dioxide by 2030 to achieve net zero carbon by 2050.
The UN’s Intergovernmental Panel on Climate Change estimates that 730 billion tonnes of carbon dioxide will have to be stored globally by 2100 to meet the goal of the 2016 Paris Agreement.
According to the agency the tenders are designed to ensure maximum competition between suppliers. These will enter bids to capture and store a fixed amount of carbon at a certain price per tonne over the course of a year.
The deadline for applications from potential tenderers to be pre-qualified is 25 March 2025.
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