Weeks after Norway’s government proposed that the country’s US$1-trillion fund divest from pure exploration and production oil companies, the cabinet said on Friday that it will allow the world’s biggest sovereign wealth fund to invest in unlisted renewable energy infrastructure. “The Government is now allowing for the Government Pension Fund Global to be invested in unlisted renewable energy infrastructure. The investments shall be made within the scope of the special environment-related mandates only,” the Norwegian government said in a statement. Norway is also doubling the upper limit on unlisted green energy investments from US$7 billion (60 billion Norwegian crowns) to US$14 billion (120 billion crowns). “The market for renewable energy is growing rapidly. A major part of the renewable energy investment opportunities is found in the unlisted market, especially in unlisted infrastructure projects. Expectations of significant investments going forward mean that this market is of interest to institutional investors […]