The vision of the carbon capture project in Oslo has been put on hold, due to a large budget deficit. So, yet another so-called climate project turns out to be an unmanageable waste of money.

At Klemetsrud, in the south of Oslo, a large facility for carbon capture was to be built, which was claimed to help save the earth from a climate crisis.

But it turns out to be much more expensive than initially thought, reports NTB.

An updated estimate for the carbon capture project at Klemetsrud in Oslo shows that the project will cost more than expected. Now the construction work is put on hold, pulling on the emergency brake, to avoid another scandal with huge budget deficits.

It’s all contained in statements of ambition etc., But it is now uncertain whether this will ever be built.

Our ambition is still to establish carbon capture at the waste incineration plant at Klemetsrud, but we have to adjust the path to the goal, says managing director Knut Inderhaug at Hafslund Oslo Celsio in a press release.

An updated estimate shows that a sharp increase in the price of equipment deliveries due to inflation, geopolitical instability and a reduced krone exchange rate will cause the project to exceed the already rather formidable budget of NOK 5.55 billion.

According to E24, the cost reduction the project must now go through means that construction work must be put on hold.

The aim is for work on the facility to resume next year and be completed in 2027, at the earliest. Others will say that at best nothing will come of it.

Inderhaug tells E24 that they hope not to need further investment from the Oslo municipality and the state, which are involved in the project.

He will not say how big Celsio has estimated that the budget deficit will be. But E24 says that the original cost estimate “can be forgotten now”, so there are obviously significant overruns.

Now they will try to reduce costs, in order to bring the country a kind of cheap version.

We are now entering a cost-cutting phase. It also involves negotiations with our suppliers. And for that reason, we are not discussing any figures now, says Inderhaug.

Many will react to this secrecy with the public regarding the budget deficit, as it is the population that will end up footing the bill for this controversial project.