The European Union will contribute up to US$70 million toward the building of a facility in China to test carbon capture and storage (CCS) technology, the Financial Times reported. "We have taken action to put in place the regulatory framework and the incentives to facilitate CCS demonstration in Europe and now we are making good on our promise to China," said Stavros Dimas, the European environment commissioner. A CCS-equipped power plant is expected to cost China between US$1.02 billion and US$1.37 billion; the European commission said it would try to seek additional funding for such a project from member states and the private sector. China is seen as a top priority for backers of CCS given the country’s heavy reliance on coal.
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