Subscribe to our free daily newsletters
. Earth Science News .

Subscribe to our free daily newsletters

Norway Plans Three-Billion-Dollar Fund For Renewables

Norway, is the world's number three oil and natural gas exporter.
by Staff Writers
Oslo (AFP) Oct 05, 2006
Norway, the world's third largest oil producer, said Thursday it would create a 20-billion-kroner (3-billion-dollar, 2.4-billion-euro) fund to promote renewable energy. The government's 2007 budget proposal, to be presented on Friday, includes the provision of 10 billion kroner for the fund and a further 10 billion in 2009.

Proceeds from the fund were to be transferred to Enova, a government agency charged with promoting the production and use of environmentally friendly energy sources.

The total return from the investments is estimated to reach 880 million kroner per year when 20 billion has been paid into the fund. This amount will come on top of Enova's 700 million annual budget, the Ministry of Petroleum and Energy said.

A third of the money will be used to support the use of renewable energy. The remainder of the cash will be directed to energy efficiency initiatives and the promotion of non-polluting heating sources.

Norway, is the world's number three oil and natural gas exporter, fosil fuels, the consumption of which, according to most scientists, contributes to global warming.

Source: Agence France-Presse

Related Links
Powering The World in the 21st Century

California Navy Base Reaches Milestone Using Solar Power
Coronado CA (AFNS) Oct 05, 2006
Naval Base Coronado's energy conservation efforts reached a major milestone Sept. 29 when the "solar photovoltaic carport" registered more than 5 million kilowatt-hours produced. The PV carport is a covered parking lot for 446 cars. Solar panels cover the roof, collecting energy for use on the base.

  • Year Of 'Quake Jihad' For Pakistan Militants
  • Musharraf Slams Oxfam Over Pakistan Quake Warning
  • Pakistan Earthquake Reconstruction On Track
  • WFP Creates Emergency Aid Hubs To Improve Disaster Response

  • Arctic Sea Ice Declines Again In 2006
  • Arctic Fever Getting Hotter
  • Dinosaurs' Climate Shifted Too
  • NASA Study Finds World Warmth Edging Ancient Levels

  • NASA Satellite Data Helps Assess the Health of Florida's Coral Reef
  • Alcatel Alenia Space To Build SIRAL-2 Radar Altimeter For CryoSat-2
  • Earth from Space: The French Frigate Shoals
  • European Microsatellite Playing Major Role In Scientific Studies

  • Norway Plans Three-Billion-Dollar Fund For Renewables
  • California Navy Base Reaches Milestone Using Solar Power
  • Technology Can Solve Energy Supply And Security Problems
  • Sakhalin-1 Energy Project Rrespects Environmental Norms Says Rosneft

  • West Java Goes Own Way On Avian Flu Management
  • A Biocontrol Agent Which Doesn't Trigger Antibiotic Resistance
  • US, Australian Scientists Develop Vaccine Against Deadly Viruses
  • 'Killer' B Cells Provide New Link In The Evolution Of Immunity

  • Unique Gene Regulation Gives Chilly Bugs Survival Advantage
  • New Plant Family Tree Sheds Light On Evolution Of Life Cycles
  • Home, Home On The Range: How Much Space Does An Animal Really Need
  • Report Challenges Common Ecological Hypothesis About Species Abundance

  • Canada Will Not Buy Pollution Rights
  • Tonnes Of Garbage Dumped, Thousands Get Lost On Tiananmen Square
  • Tonnes Of Garbage Dumped, Thousands Get Lost On Tiananmen Square
  • Coastal Urbanisation Turning Oceans Into Garbage Dumps Says UN

  • Chinese Oldest Academy Celebrates 1,030 Years
  • Identity Of Ancient Child Skeleton Found In Ethiopia Challenged
  • Family Tree Of Confucius Has One And A Half Million Members
  • Chinese Organ Sales 'Thriving'

  • The content herein, unless otherwise known to be public domain, are Copyright 1995-2006 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA PortalReports are copyright European Space Agency. All NASA sourced material is public domain. Additionalcopyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement