Industriens Pension plans to expand renewable energy investments in emerging markets

To accommodate increasing electricity demand from developing countries over the next decade, Danish pension company Industriens Pension plans to increase investments in wind and solar energy. The pension fund has just invested DKK 1bn in an energy fund focusing on renewable energy projects in emerging markets

Photo: Staff/Reuters/Ritzau Scanpix

Danish pension company Industriens Pension is increasing its global investments in wind and solar energy with an investment of DKK 1 billion ((EUR 134.4 million) in an energy fund from the infrastructure investor Actis, focusing on renewable energy projects in emerging markets.

The new fund is aimed both at electricity generation and distribution.

"Investments in solar and wind energy in developing countries make important contributions to the green transition globally. With the right partners, this area can continue to provide solid, long-term returns. We still see great opportunities as an investor, " says head of unlisted investments in Industriens Pension, Jan Østergaard in a press release.

During the past ten years, the Danish pension fund, with EUR 26 billion in assets under management, has gradually expanded its unlisted investments in renewable energy in East Asia, Latin America, and Africa. For the coming decade, the pension company expects to increase its green energy investments significantly, and the new investment is part of this strategy.

By 2035, electricity demand from developing countries is expected to triple with developing countries expected to account for approximately two thirds of global demand for new power.

In many developing countries, renewable energy from solar and wind is fully competitive with conventional energy sources. According to Industriens Pension, this will create significant investment opportunities in green energy in the coming years.

(This article was provided by our sister media, AMWatch)

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