Why capital from oil can lead the push for renewable power while fossil majors hesitate

Recharge · Ole Petter Pedersen · 2026-10-14 10:22 UTC

Norway’s sovereign wealth fund and Abu Dhabi-backed Masdar are increasing their renewable energy investments in the wake of BP’s ongoing retreat from the industry

Norway’s sovereign wealth fund and Abu Dhabi-backed Masdar are increasing their renewable energy investments in the wake of BP’s ongoing retreat from the industry

Masdar and Norway’s sovereign wealth fund, managed by Norges Bank Investment Management (NBIM), have different mandates. But they seem to share an advantage: the ability to commit capital over long periods without requiring every investment to deliver immediate returns.

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