EnergyWatch

Winds shift at pension funds as sea turbines generate low returns

Oil companies' efforts to conquer the sea have put pressure on returns for offshore wind projects as demand increases. This has led a number of Denmark's largest pension funds to consider reallocating their capital, and PensionDanmark has already taken this step.

Photo: Marcus Emil Christensen

A historic change is taking place at Danish pension companies when it comes to green investments. Billions of kroner are being pulled out of offshore wind projects, where the domestic pension sector was a global pioneer as one of the first industries to invest in the assets on a large scale.

Paradoxically, the roll-back is happening at a time when the number of offshore wind projects around the world is set to explode. Tenders for offshore wind for the next six months alone equal the total amount already constructed globally, Danish media Finans reports.

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