The climate fund, administered by the Norwegian Investment Fund for developing countries, Norfund, will from next year support projects to reduce dependence on fossil-fuels, especially coal OSLO : Norway will allocate 10 billion crowns ($1.16 billion) over five years towards renewable energy investments in developing countries to cut greenhouse gas emissions, the government said on […]
Ford’s Electric Mustang Tops Norway Car Sales in May
By exempting fully electric vehicles from taxes imposed on internal combustion engines, Norway has turned its car market into a testing ground for automakers seeking a path to a future without fossil fuels. OSLO : Ford Motor Co’s electric Mustang Mach-E topped Norway’s car sales in May, the first full month of registrations for the […]
Vianode Signs MoU for Supply of Battery Materials with Morrow Batteries
Vianode and Morrow Batteries (Morrow) have signed a Memorandum of Understanding (MoU) for the development and qualification of large-scale supply of anode materials to Morrow Batteries’ planned lithium-ion battery cell facility in Eyde Energy Park, Arendal, Norway. Vianode, established by Elkem as a new company for battery materials, intends to supply the anode materials from […]
Chinese Electric Vehicle Maker Nio Launches its 1st Overseas Store in Norway
The company, backed by Chinese tech giant Tencent, has delivered over 100,000 cars since it was set up in 2014, almost all of them in China. BEIJING : Chinese electric vehicle (EV) maker Nio Inc said on Thursday that it had launched its first overseas store in Norway and plans to start selling cars in […]
SoftBank’s $120 Million Norway Deal Has a High-Pay Theme to It
After spending $120 million on a stake in an online grocer in Norway, SoftBank Group Corp. is laying out the business logic of targeting a market that boasts Europe’s highest hourly labor costs. The deal is an example of how countries that pay average workers really well often come up with some of the smartest […]
Norway sovereign wealth fund buys first renewable energy stake
The fund, which has more than 1.1 trillion euros ($1.3 trillion) in assets, said it will buy a 50 percent stake in what is currently the world’s second-largest offshore wind farm. Oslo: Norway’s sovereign wealth fund, which is financed from taxes paid by the nation’s oil and gas industry, said Wednesday it had made its […]
Morrow Batteries Is Taking Its First Steps to Norwegian Gigafactory
Morrow Batteries is starting development of a large-scale factory in Norway, where it will benefit from some of the lowest electricity prices in the world. The Nordic region, with its abundance of cheap and clean hydro power, could emerge as a European hub for the key technologies needed to electrify everything from transport to heavy […]
Australia won’t subsidise electric vehicles
The approach is in stark contrast with Norway, which has promoted clean cars through tax breaks, resulting in battery EVs making up 54 per cent of new cars sold in 2020, a global record. MELBOURNE: Australia expects one in four cars sold will be electric vehicles by 2030, but the government said on Friday it […]
Norway Wealth Fund Dumps Oil Stocks Amid $10 Billion Loss
Norway’s sovereign wealth fund has sold its entire portfolio of companies focused on oil exploration and production, marking a major step away from fossil fuels for the investing giant. The portfolio, worth about $6 billion in 2019, was fully exited by the end of last year, Trond Grande, the fund’s deputy chief executive, said by […]
IEA launches global group to tackle fallout from energy transition
Birol said he was optimistic the new U.S. administration would join other major economies in committing to a net zero emissions target by mid-century. President Biden has temporarily suspended the issuing of permits for oil and gas drilling in federal acreage, reversing the direction taken by his predecessor Donald Trump who had sought to maximise […]
