The Swedish Energy Agency has announced Stockholm Exergi as the winner of its first reverse auction to build a facility for capturing and storing biogenic carbon dioxide (BECCS). The award consists of a SEK20bn (€1.74bn) support to be disbursed continuously over a maximum of 15 years, starting from the commencement of geological storage, to be used both for investment and operation of the facility. The BECCS Stockholm project is expected to remove about 800 ktCO2/year once it becomes operational, and it will be constructed at the existing bio power plant in Värtan (Stockholm, Sweden). The company is expected to reach a final investment decision (FID) as soon as possible in 2025 to start capturing CO2 within three years.
The Swedish Energy Agency was tasked with designing a new support system to achieve negative emissions through bio-CCS in 2021. The support system was approved in 2024, with a total support of SEK36bn (€3.2bn) to be distributed during 2026-2046, leaving SEK15bn (€1.3bn) left to be distributed.
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