17.10.2013 - Norway’s sovereign wealth fund gives a boost to global renewable energy
The Norwegian sovereign wealth fund is the largest in the world at around $750 billion, and a new government is currently being formed in Oslo that is considering investing some of the wealth in renewable energy projects across the world. Formed in 1990, the fund generates money from taxes on Norway’s oil and gas industry, as well as owning several fields in the North Sea, and a 67% stake in Statoil. It also owns large shares in many of Europe’s largest companies, and it has been calculated that one in every $80 invested in equities around the world is owned by Norway, giving the fund massive influence over the global financial market...............................................Full Article: Source
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