The plans for a state funded investment fund focusing on green energy investments have been discussed since 2013. It was Terje Breivik, Venstre who first brought up the idea after witnessing several renewable energy projects being put aside due to the lack of funding.
In 2017 the fund was established and the main office was located to Stavanger. In 2018 the board and management were assigned and it was given the name Nynsø (fresh snow). The goal is to steadily build up an investment capital of 20 billion NOK. To get started the fund has received 400 MNOK for 2018 and the fund has already made its first investments.
In addition to the traditional funding schemes like ENOVA, Innovation Norway and Forskingsrådet it is important to have investors with a dedicated focus on the renewable sector and with a long term vision.
With Siri Kalvig, an entrepreneur and with a phd within offshore wind as the manager of the fund it seems like that Nysnø is off to a good start. Now it is up to the industry to develop companies and projects that can put the green investment capital into actual work!