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World s largest SWF posts 9 4% returns in H1 driven by energy equity

World s largest SWF posts 9 4% returns in H1 driven by energy equity
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Norway s wealth fund makes first direct investment in renewables with $1 6-billion wind farm deal

Norway’s wealth fund makes first direct investment in renewables with $1.6-billion wind farm deal Gwladys Fouche and Nikolaj Skydsgaard OSLO Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account Getting audio file . This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer Phil Noble/Reuters Norway’s $1.3 trillion sovereign wealth fund has made its first direct investment in a renewable energy project, a new asset class for the world’s largest state-owned investor, it said on Wednesday. The fund bought a 50 per cent stake in the Borssele 1 and 2 wind farm off the Netherlands for 1.375 billion euros ($1.63 billion) from Denmark’s Orsted, which will continue to co-own and run the facility.

Norway s Sovereign Wealth Fund Pushes into Renewables with $1 6 Billion Orsted Deal – gCaptain

By Gwladys Fouche and Nikolaj Skydsgaard OSLO, April 7 (Reuters) – Norway’s $1.3 trillion sovereign wealth fund has made its first direct investment in a renewable energy project, a new asset class for the world’s largest state-owned investor, it said on Wednesday. The fund bought a 50% stake in the Borssele 1 and 2 wind farm off the Netherlands for 1.375 billion euros ($1.63 billion) from Denmark’s Orsted, which will continue to co-own and run the facility. Such direct investments are new for the fund which, until last year, was only allowed by parliament to invest in stocks, bonds and property. The Borssele is the world’s second-largest offshore wind farm in operation, with an installed capacity of 752 megawatts, which can produce the equivalent of a year’s annual electricity consumption for around one million Dutch households.

Norway s $1 3 Trillion Fund Blacklists 15 Companies

“We have no further plans to exit fossil fuels,” Chief Governance and Compliance Officer Carine Smith Ihenacho said on Thursday, after the fund published details of 15 companies it blacklisted in 2020. “Part of the assessments that were made was precisely that we should be owners of larger, integrated energy companies, and contribute as owners in order for them to meet the transition to a low-carbon society in a good way.”The Oslo-based fund generated $123 billion in returns last year, marking its second-best performance ever thanks in large part to tech stocks. Some of its biggest losses, however, were tied to holdings of oil companies and exiting stocks focused on oil exploration and production. Meanwhile, Chief Executive Nicolai Tangen has made clear he wants to focus more on sustainability to fight everything from pollution to corruption and sexism.The fund said the 15 stocks it excluded from its portfolio last year were singled out based on ethical considerations rangi

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