Why does Novo Holdings consider US renewables 'much more attractive' now compared to earlier in the year?

Novo Holdings considers US renewables 'much more attractive' now because pricing and valuations have improved significantly after earlier uncertainty around tariffs, inflation, and interest rates subsided; CEO Kasim Kutay stated they waited for clarity on these macroeconomic factors and now see a more stable environment—despite Trump-era anti-green policies—especially given the US's high energy demand driven by AI infrastructure investments.

What prompted Novo Holdings to pause and then resume its investment allocations in early 2025?

Novo Holdings paused allocations earlier in the year because it was 'in the eye of the storm with a lot of uncertainty' regarding tariffs, inflation, and interest rates; it resumed normal allocations once that uncertainty settled and it gained a clearer read on the direction of those key macroeconomic variables, concluding that 'we are in an era of higher for longer' on US interest rates and that extreme market volatility had subsided.

Novo Holdings Fund Deems US Renewables 'Much More Attractive'

Aug 12, 2026

Novo Holdings, the investment arm of Novo Nordisk, has resumed full capital allocations targeting US renewables and AI infrastructure, citing improved valuation and market stability despite ongoing tariff and interest rate uncertainties.

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Novo Holdings Fund Deems US Renewables 'Much More Attractive'

Novo Holdings Fund Deems US Renewables 'Much More Attractive'

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