Norway pledges NOK1bn for renewable energy in developing nations

That’s more than double the support from this year, which stands at NOK495 million (£45.7m)

The Norwegian Government has pledged NOK1 billion (£0.09bn) to support renewable energy projects in developing countries in 2019.

That’s more than double the support from this year, which stands at NOK495 million (£45.7m) – and is in addition to stepping up grants for the Norfund’s (Norwegian Investment Fund for Developing Countries) investments in renewable energy.

The government intends to also assist in developing and implementing risk mitigation measures, building regulatory competence and expanding the electricity grid.

Nikolai Astrup, Minister of International Development said: “A stable electricity supply is important in order for developing countries to reach their sustainability goals within 2030.

“Electricity is not just a prerequisite for economic growth. It is also crucial for operating health institutions, for schools to be a part of digital developments and so that students can do their homework at night. We must ensure that we reach the world’s poorest through our energy initiatives.”

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