CIP $1B Commitment, Renewable Investments in India & Serbia

Norges Bank Investment Management has committed $1 Billion CIP's C IV renewables fund. Fortis Energy and PowerChina have agreed to collaborate on developing 850 MW of wind and solar in Serbia and southeast Europe. Evren, a renewable platform by Brookfield and Axis Energy, will invest $5 billion for renewables in Andhra Pradesh, India. Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard's StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes' YouTube channel here. Have a question we can answer on the show? Email us! Pardalote Consulting - https://www.pardaloteconsulting.comWeather Guard Lightning Tech - www.weatherguardwind.comIntelstor - https://www.intelstor.com Allen Hall: I'm Allen Hall, president of Weather Guard Lightning Tech, and I'm here with the founder and CEO of IntelStor, Phil Totaro, and the chief commercial officer of Weather Guard, Joel Saxum. And this is your News Flash. News Flash is brought to you by our friends at IntelStor. If you want market intelligence that generates revenue, then book a demonstration of IntelStor at IntelStor.com. Norway's sovereign wealth fund, Norge's Bank Investment Management, has committed one billion dollars Billion dollars to Copenhagen Infrastructure Partners fifth flagship renewable energy fund, CIV. The fund invests in offshore and onshore wind, solar farms, grid and distribution, and also storage. Investments will be equally split between North America, Western Europe, and developed countries in Asia Pacific. But why is Norway putting a billion dollars into CIP? What's the plan for that fund? Philip Totaro: It's a good question, Allen. I, I think Nordisk Bank has actually had a fairly decent track record of diverting some funds and, and investing them into renewables funds. Including some much smaller previous investments in with CIP and, and other project development companies or investors in, in renewables. The reason that they're doing it is because and again, as you mentioned, this is the sovereign wealth fund of Norway. They're really just looking to diversify their investment stream beyond just oil and gas. And so I, I don't know what led them to this relationship with CIP to say, you know what, billion dollars, here you go. But that's that's a lot of money and a lot of trust in being able to invest it and, and see a return that I'm sure Norges Bank is, is looking for. Joel Saxum: Yeah, I think it's stable cash looking for a stable investment. And right now you, as you seen the big, the black rocks and the other pension funds these, what would be the equivalent of the size of like the sovereign wealth fund of Norway,