AMWatch

Danish state pension fund on investment in immature energy source: Taking risks pays off

Shelved geothermal projects abound in history books, but ATP Group CEO Bo Foged is convinced that a new facility will ensure favorable returns for pension savers. He also sees opportunities in a global expansion.

Photo: PR/ATP

ATP has invested an undisclosed sum in a new geothermal power plant that will extract hot water from the subsoil below the city of Aarhus, Denmark. The state pension provider will own a 37-percent stake in the company, which seeks to develop a business based on a hitherto untapped energy source.

It's one of those bets that a pension fund has to take, according to Bo Foged, group chief executive of ATP.

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