Norway To Establish $3.2 Billion Fund For Renewable Energy - Reuters

[hatrack]

OSLO - Norway is setting up a 20 billion Norwegian crowns ($3.24 billion) fund to promote renewable energy such as wind and hydropower while spurring energy savings, the government said on Monday.

It said the cash would help Norway achieve a goal of raising available power by 30 terawatt hours (TWh) by 2016, compared with 2001, from renewable energy sources and by greater efficiency. Its previous goal was a saving of 12 TWh by 2010 versus 2001. Norway's total power output, mostly from hydropower, is about 120 TWh a year.

"Bioenergy, windpower, hydropower, and energy efficiency will contribute to new possibilities, new jobs and new optimism over the whole country," Oil and Energy Minister Odd Roger Enoksen said in a statement.

The fund would be managed by state energy firm Enova. Under the scheme, Enova would strengthen infrastructure for district heating, stimulate energy efficiency and renewable energy in households and set up a deposit scheme to encourage scrapping of oil boilers.

EDIT

http://www.planetark.com/dailynewsstory.cfm/newsid/36782/story.htm

[Tanuki]

1. Just imagine

if all the billions of dollars Bush has wasted in Iraq had been applied to something worthwhile like this....

[lakeguy]

3. oh come on now, bush set aside a whopping 1.5 billion to work on

hydrogen development. only it will be used to mine hydrogen out of oil.

[ladjf]

2. This is how sane people react to the energy problem.