April 7, 2018 / 3:59 PM / 10 months ago

Norway's wealth should be allowed to invest in unlisted renewables -ruling Conservative party

OSLO, April 7 (Reuters) - Norway’s $1 trillion sovereign wealth fund should be allowed to invest in unlisted renewable projects such as solar parks and wind farms, the ruling Conservative party voted on Saturday.

The world’s largest sovereign wealth fund, which invests Norway’s oil and gas revenues in stocks, bonds and real estate, has for many years sought permission to invest in unlisted infrastructure assets.

“Let the fund invest in unlisted infrastructure for renewable energy with the same demand for profitability as for other investments,” said the motion.

The decision strengthens the possibility that the fund could invest in the new asset class as the Conservatives are the leading party in Norway’s minority coalition government.

The other parties are the rightwing Progress Party and the centrist, pro-green Liberals. (Reporting by Gwladys Fouche, editing by Terje Solsvik)

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