Add the sliced mushrooms to the pot and cook until they have released their liquid and are tender.
Add the Arborio rice to the pot and stir to coat with the oil and butter. Cook for 1-2 minutes until the rice is lightly toasted.
Add the white wine to the pot and stir until it is absorbed by the rice. Begin adding the chicken or vegetable broth, one ladleful at a time, stirring until the liquid is absorbed before adding more.
Continue adding broth and stirring until the rice is cooked to your liking. It should be creamy but still slightly al dente.
Remove the pot from the heat and stir in the grated Parmesan cheese and heavy cream. Season with salt and pepper to taste.
Serve immediately, garnished with fresh herbs if desired.
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