Norway oil fund increases renewable energy exposure

|By:, SA News Editor

Norway's government proposes to increase the environmental technology portfolio of its sovereign wealth fund to 30B-50B kroner ($5B-$8.33B), from a previous target of 20B-30B kroner.

At the end of 2013, the fund's portfolio of environmentally friendly investments counted 166 companies, including Pentair (PNR), Johnson Controls (JCI), Danaher (DHR) and Enel Green Power (ELPSY), valued at 31.4B kroner.

About 6% of the fund's general portfolio currently consists of companies with more than 20% of revenue from businesses providing green technologies, the finance ministry says.