Monday 20 September 2021

No pension money for wind farms

Asset manager APG, the Netherlands biggest pension fund manager, will not invest in wind farms, the Volkskrant says on Friday.

APG, which runs the giant ABP civil service pension fund and the construction sector fund bfpBouw, says wind turbine technology is too new and government subsidies too uncertain to achieve the necessary return on any investment, the Volkskrant says.

The decision is a blow to the government’s energy agreement, which depends on the willingness of companies, banks and pension funds to invest in sustainable energy.

In order to fulfill international climate agreements, the government needs investment of €11bn in 1,000 offshore wind turbines.

 

Thank you for donating to DutchNews.nl

The DutchNews.nl team would like to thank all the generous readers who have made a donation in recent weeks. Your financial support has helped us to expand our coverage of the coronavirus crisis into the evenings and weekends and make sure you are kept up to date with the latest developments.

DutchNews.nl has been free for 14 years, but without the financial backing of our readers, we would not be able to provide you with fair and accurate news and features about all things Dutch. Your contributions make this possible.

If you have not yet made a donation, but would like to, you can do so via Ideal, credit card or Paypal.