Norway's wealth fund sticks to investments in renewables despite market setbacks [Yahoo! Finance]
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Source: Yahoo! Finance
Thu, January 30, 2025 at 1:18 PM GMT+1 2 min read By Nora Buli OSLO (Reuters) - Norway's $1.8 trillion wealth fund, the world's largest, remains committed to investments in renewable assets despite recent market setbacks and will seek opportunities in both the listed and private markets, a senior fund official said on Thursday. Renewable energy assets have significantly underperformed in the market in 2024, with some previous investor favourites such as Danish offshore wind developer Orsted taking big hits to their valuations. The fund's own investments in unlisted renewable energy infrastructure, which includes stakes in offshore wind farms with Orsted and in Spanish utility Iberdrola's renewables portfolio, posted on Wednesday a negative return of -10% for 2024. Despite the negative returns recently, the fund remains committed to renewables, saying it makes sense in the long-term. "We think that's smart also for a very, very long-term investor ... All of our investmen
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