Norway’s Sovereign Wealth Fund Makes First Investment In Renewable Energy Infrastructure

as part of a diversification away from bonds, equities and real estate amid a global push to fight climate change.Norges Bank Investment Management , the asset management arm of Norway’s central bank, which manages the sovereign wealth fund, agreed to acquire a 50% stake in the Borssele offshore wind farm in the Netherlands from Danish energy firm Ørsted A/S for €1.375 billion .

When the transaction closes — in the second or third quarter of 2021 — Ørsted will remain the wind project’s co-owner and operator. NBIM said Borssele – the second-largest operating wind farm in the world — has a capacity of 752 megawatts and can produce enough energy to supply the annual electricity demand of about 1 million Dutch households.that the sovereign wealth fund has a mandate from Norway’s parliament to invest up to 2% of the fund’s assets in renewable energy assets and projects.

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Norway’s Sovereign Wealth Fund Makes First Investment In Renewable Energy InfrastructureNorway’s Sovereign Wealth Fund Makes Its First Investment In Renewable Energy Infrastructure Norway produces most of it's energy from its tidal power plants. There is no need to ruining offshore with wind energy.
Source: Forbes - 🏆 394. / 53 Read more »

Norway’s Sovereign Wealth Fund Makes First Investment In Renewable Energy InfrastructureNorway’s Sovereign Wealth Fund Makes Its First Investment In Renewable Energy Infrastructure
Source: Forbes - 🏆 394. / 53 Read more »