Independent evaluation of Norfund’s investments in renewable energy
7. juli 2025About the publication
Released: December 2024
Type: Evaluation
Theme: Renewable energy, investments, climate, environment, natural resources
Number of pages: 112
Serial number: 9/2024
ISBN: 978-82-8369-218-1
NB! The publication is ONLY available electronically and cannot be ordered in paper form.
Norfund, the Norwegian Government’s Investment Fund for Business in Developing Countries, channels investments into renewable energy to expand electricity production, increase access to power, and foster economic growth across developing markets. As the manager of the Climate Investment Fund, Norfund is especially focused on reducing emissions in emerging economies that continue to rely heavily on coal and other fossil fuels.
This evaluation examines the outcomes and anticipated impacts of Norfund’s investments in renewable energy. It assesses whether these investments have been truly additional—meaning they enabled projects that would not have happened otherwise—and considers both the sustainability and cost-effectiveness of the results achieved. The review encompasses all renewable energy investments made by Norfund from 2015 through 2023.
The evaluation findings are designed to provide the Ministry of Foreign Affairs and Norfund with actionable insights, helping to strengthen both current and future renewable energy investments.