Danish pensions industry ‘ready’ to invest in North Sea wind energy project

The Danish pensions industry is fully supportive of the goal to utilise the North Sea for green energy to a greater extent and is ready with investment capital to meet European ambitions, Forsikring & Pension (F&P) has said.

Following the meeting of European heads of state yesterday (18 May), where greater investment in green energy projects in the North Sea was discussed, F&P said increased investment was ambitious, necessary and showed that the country would make full use of the North Sea’s potential.

F&P CEO, Kent Damsgaard, said that focus must now turn to getting the concrete framework in place as soon as possible, so the plans to turn the North Sea into a ‘green power plant’ can become a reality.

The plans to extend the plant's capacity by 2050, which will cover the needs of up to 230 million Europeans, require investments of more than DKK 1,000bn.

“It is absolutely necessary for us to achieve our own goals in the field of energy that Denmark and our neighbouring countries set the ambitions for green development of energy so high,” Damsgaard commented.

“It also opens up for Danish exports and jobs. Our industry has long wanted a larger goal in this area, and we are ready with green investments.

“With an expansion of offshore wind, we can get started on what can end up as a true export adventure for Denmark.

“It also plays directly with the development of PtX, so that the large amounts of green energy we create in the North Sea can be stored and used efficiently for the 230 million Europeans who can benefit from the green energy.”

    Share Story:

Recent Stories

An overview of growth investing
European Pensions Editor, Natalie Tuck, speaks to American Century Investments (ACI), Vice President, Senior Client Portfolio Manager, Kevin Lewis on growth investing.

They discuss how it has performed in 2021, and its outlook, going forward. They also cover ACI’s differentiated growth approach to the investment universe, and how this capitalises on market inefficiencies, as well as how ACI’s team is equipped to invest in this manner.
Podcast: The benefits of private equity in pension fund portfolios
The outbreak of the Covid-19 pandemic, in which stock markets have seen increased volatility, combined with global low interest rates has led to alternative asset classes rising in popularity. Private equity is one of the top runners in this category, and for good reason.

In this podcast, Munich Private Equity Partners Managing Director, Christopher Bär, chats to European Pensions Editor, Natalie Tuck, about the benefits private equity investments can bring to pension fund portfolios and the best approach to take.

Podcast - The power of three: Using Common Contractual Funds to improve tax outcomes for investors
Large asset owners are still investing in equities in a way where they are taxed on their income. The implication is that they get a poorer return. They need to, and can, improve this, but how?

In this podcast, AMX Head of Client and Manager Development, Aaron Overy, and AMX Product Tax Specialist, Kevin Duggan, discuss with European Pensions Editor, Natalie Tuck, about three options to help ensure good withholding tax outcomes for institutional investors.

Mitigating risk
BNP Paribas Asset Management’s head of pension solutions, Julien Halfon, discusses equity hedging with Laura Blows