Norwegian CO2 capture project saved by Fortum divestment

Billions of Norwegian kroner needed to ensure the survival of a CO2 capture project at waste-to-energy plant in Oslo will now come from new investors in Fortum Oslo Varme after the Finnish energy giant divested its stake.

The Klemetsrud waste-to-energy plant. | Photo: Fortum

It seemed as if the CO2 capture efforts at the Klemetsrud waste-to-energy plant was a non-starter. The project was passed over for EU subsidies back in November, grinding the plans to a halt.

On Tuesday, new investors breathed new life into the company behind the plans. Fortum Oslo Varme will have new owners after Finnish Fortum divested its share in the company to a consortium of investors consisting of Hafslund Eco, Infranore and Hitecvision. The three new owners will revive the CO2 capture plans at the Klemetsrud site, writes Norwegian media NRK.

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