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‘Historic breakthrough’: Norway’s giant oil fund dives into renewables

by Damian Carrington, Grist

Norway’s $1 trillion oil fund, the world’s largest sovereign wealth fund, is to plunge billions of dollars into wind and solar power projects. The decision follows Saudi Arabia’s oil fund selling off its last oil and gas assets.

Other national funds built up from oil profits are also thought to be ramping up their investments in renewables. The moves show that countries that got rich on fossil fuels are diversifying their investments and seeking future profits in the clean energy needed to combat climate change. Analysts say the investments are likely to power faster growth of green energy.

Norway’s government gave the go-ahead on Friday for its fund to invest in renewable energy projects that are not listed on stock markets. Unlisted projects make up more than two-thirds of the whole renewable infrastructure market, which is worth trillions of dollars.

Read more: https://grist.org/article/historic-breakthrough-norways-giant-oil-fund-dives-into-renewables/?utm_content=buffer0873a&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer&fbclid=IwAR3wcDWDkF1SVD1lw0GLgvyQFN0o4rFIapLzbnwcHzfDT76CgP157mL4DI0

Norway leads an electric ferry revolution

Highlights:

  • Norway is leading the world with electric ferry transportation.
  • Ampere makes 34 crossings a day from Lavik and Oppedal, totallying to an equivalence of 2 times around the Equator annually.

by Jeff Butler, PlugBoats

The world of large commercial boat electrification is being led by Norway electric ferries, which were first introduced to the country in 2014when one of the country’s major ferry companies, Norled, announced the world’s first fully electric battery powered car ferry. Now electric ferries are becoming the latest must-have for one of the world’s most maritime-travel intense nations.

If you’ve ever seen a map of Norway, you’ll know that ferries are a big deal. It’s coastline has thousands of fjord inlets, and if you take into account all of them, it has 25,148 km of coastline – the 8th longest in the world. Just behind Australia (25,760) and well ahead of The U.S. (19,924) and China (14,500).

Read more: https://plugboats.com/norway-leads-an-electric-ferry-revolution/