April 8, 2021

DADDY, WHAT WAS OIL?:

Norway's giant oil fund invests in renewable energy for first time (Ketan Joshi, 8 April 2021, Renew Economy)

In a strategy report also released yesterday, the fund detailed its plans for energy. "We will gradually build up the renewable energy portfolio. We will primarily aim to invest in wind and solar power. We will focus on projects with reduced power price risk, stable cash flow and limited risk to the principal investment", wrote the fund's managers.

Norway's oil fund recently found that much of the cash flowing into the fund from fossil fuels was lost due to subsequent investment in poorly performing oil an gas investments. 

Posted by at April 8, 2021 7:30 AM

  

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