Greece's Prinos Carbon Capture Facility to Store 2.8 Million Tons Annually by 2030
A carbon capture storage facility in Greece is projected to begin operations by 2027, with an annual capacity of 2.8 million tons by 2030 and a total potential of 66 million tons. Funded by €270 million from the EU and Greek government, the facility will target emissions from sectors such as chemicals, cement, and steel, supporting the EU's net-zero emissions goal by 2050. Additionally, the European Investment Bank is financing a similar project in Stockholm, set to open in 2028, which aims to capture 800,000 tons of carbon annually.
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A carbon capture storage facility in Greece is set to begin receiving carbon by 2027, with a projected annual capacity of 2.8 million tons by 2030, and a total potential of 66 million tons. The facility will serve Greece, Italy, Slovenia, and Croatia, targeting emissions from sectors like chemicals, cement, and steel.
The project received €270 million in EU and Greek funding, supported by the EIB Advisory team, which assisted in developing the business model and securing financing. Carbon storage is crucial for the EU's goal of net-zero emissions by 2050, with plans to increase storage to 50 million tons annually by 2030. The European Investment Bank is also financing a carbon capture project in Stockholm, Sweden, set to open in 2028, expected to capture 800,000 tons of carbon annually.
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