Norwegian investor Jens Ulltveit-Moe was previously a strong advocate of fossil fuels, having ploughed cash into both the offshore and shipping sectors, before shifting the focus of his investments to the renewables sector – inspired in part by the need to counter environmental damage caused by carbon dioxide emissions from petroleum activities.

However, the 73-year-old financier subsequently got his fingers burned after losing millions of dollars on an ill-fated solar power venture with REC Silicon and bioethanol production in Brazil.

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