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Norway's oil fund prepares for first investment in renewables

The Norwegian sovereign wealth fund plans to directly invest around NOK 100 billion in renewable energy such as solar and wind power. The first investment will likely come in 2021, says CEO Nicolai Tangen.

Photo: PER FOLKVER

As early as in March 2020, Norway's Government Pension Fund put forth the idea of making investments in renewable energy during the year's remaining nine months.

That's not quite what happened. Now, however, the fund seemingly prepares to make these investments during 2021, in line with its strategic ambition to invest around NOK 100 billion (EUR 9.6 billion) in renewables in 2020, 2021 and 2022, reports E24.

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