“Renewable Inc” to be located in the Stavanger Area

Terje SøviknesFrom left: Minister of Petroleum and Energy Terje Søviknes (The Progress Party, FRP), Member of Parliament Iselin Nybø (Liberals, V), Minister of Health, Bent Høie (Conservatives, H) and Member of Parliament Olaug Bollestad (Christian Democrats, KrF) . Photo: HSI / OED.Photo:The Ministry of Petroleum and Energy

Petroleum and Energy Minister Søviknes today announced that the state’s new investment company shall be located in the Stavanger region.

– The government will establish a new investment company focused on reduction of so-called Greenhouse emissions. I am pleased to announce that the company will be located in the Stavanger Area, states Minister Søviknes.

The Government in conjunction with the support from the Christian Democrats (Krf) and the Liberals (V) wish to front an ambitious climate policy and further strengthen these efforts with the creation of the new investment company.

The company’s purpose will be to help reduce greenhouse gas emissions through investments. The company will invest in unlisted companies and through the so-called funds-inside-funds solutions, primarily aimed at transition from technology development to commercialisation.
In addition to Stavanger, both Bergen and Trondheim was considered as location of the new company. After an overall assessment, the Government decided to put the company in the Stavanger Area. The Area has a long history of innovative technology related companies and the commercialisation of new technologies, and has strong and competent investment foundations.

– Establishment of the company in Stavanger region will build on the knowledge and expertise in energy and finance in the region, but it is important for me to emphasise that the investment company’s responsibility is for the whole country, even joining domestic companies as they go international, says Minister Søviknes.

The new company will be created as Incorporation fully owned by the State-

 

Source: The Ministry of Petroleum and Energy / Norway Today

 

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