NORWAY’S government is to allow the country’s £1 trillion sovereign oil fund to invest billions in renewable energy. The country with a similar population to Scotland has an oil fund equivalent to £200,000 per person. Called the Government Pension Fund Global, it is the largest sovereign wealth fund in the world. Previously the fund was limited to invest only in proven renewables but now the Norwegian government says it will allow more than £10 billion to be invested in unlisted renewable energy infrastructure developments. That could be very good news for Scotland, given our lead in developing tidal and wave power and our existing strong links to Norway in the renewables sector.
The National 10th April 2019 read more »