The world’s largest sovereign wealth fund will invest in non-listed infrastructure, with the government stressing such commitments will not be a climate policy measure but an investment strategy. The fund had already announced an intent to gradually divest holdings in oil and gas companies and related projects.
British headquartered perovskite startup, Oxford PV has received an additional GBP 8.02 million (US$11.2 million) in funding from existing investors. The company states it will use the funds to continue its development of commercially viable perovskite-on-silicon tandem cells.
The Norwegian oil company announced its intention to enter the solar energy business in October, when it launched a US$197 million fund dedicated to renewable energies.
Prodiel will begin construction on the 162 MW PV plant, developed by Norway’s Scatec Solar and Statoil, “imminently”. The US$215 million project is expected to be operational in Q4 2018.
Norway’s Scatec Solar has wrapped up financing for three solar arrays it is developing in Peninsular Malaysia, by issuing a 1,000 million ringgit ($237 million) green Islamic bond. Construction has already started on the projects, which will be finished in the next few months.
The Norwegian oil company has also formed a 50/50 joint venture with the fellow solar developer to build and operate large-scale PV plants in Brazil.
The Norwegian oil company confirmed it is evaluating new business opportunities within solar. The company launched a $197 million fund dedicated to renewable energies in February 2016.
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