Norway's KLP adds to development investments with Egypt solar deal

Norwegian pension fund KLP has now joined forces with other partners to put pension kroner into six solar power plants in Egypt with total capacity of 400 MW. The Oslo-based municipal pension provider, which already has more than NOK 1 billion committed to international development, expects a good return on the public-private deal.

Photo: ABB

Norway's biggest life insurer, Kommunal Landspensjonskasse (KLP), which provides staff pension schemes for local authorities, is putting more of its pension kroner into investments backing development with a new Egyptian deal.

Heidi Finskas, Vice President Corporate Responsibility, says KLP's target of NOK 1.5 billion (EUR 150 million)  in development investments has already been committed to various partners, including KNI, NorFinance, Climate Investor One and Nordic Microfinance Initiative, who are working on projects in their pipeline.

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