Norway makes a $3.23 billion push for more renewable energy

Norway makes a $3.23 billion push for more renewable energy

London (Platts)--14Jun2006

Norway is to allocate NOK 20 ($3.23) billion to a project fund that will
boost production and use of renewable energy and increase energy efficiency,
said the energy ministry Wednesday, citing energy minister Odd Roger Enoksen.
The fund will be allocated NOK 10 billion from Jan 1, 2007 and another
NOK 10 billion two years later.
The yield is estimated to be about NOK 800 million annually when the fund
reaches NOK 20 billion. This is a doubling of today's level. Support will be
given to increase the production and use of bio-energy, wind power, small
scale hydro power and increased energy efficiency. The state owned agency
Enova will manage the yield from the Fund.
In addition to present responsibilities, Enova will be given the task of
expanding the infrastructure for district heating, stimulating energy
efficiency and heating based on renewable energy in the household sector, and
establishing a system for payment against scrapping old oil-fired boilers and
stoves.
The design of support systems for different activities will be presented
in the Budget for 2007 to be presented to parliament in October 2006.

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