Norway's oil fund buys first green infrastructure asset

The Norwegian sovereign wealth fund is acquiring half equity interest in a offshore wind farm. This is the fund's first dive into the renewable energy infrastructure.

Photo: PR MHI Vestas

Norges Bank Investment Management, NBIM, which manages the oil rich country's sovereign wealth fund have agreed to buy half of offshore wind farm Borssele 1&2 in the Netherlands for EUR 1.375bn from Danish utility Ørsted.

This marks the oil fund's first investment in unlisted renewable energy infrastructure. The sovereign wealth fund has otherwise mainly underwritten oil and gas operations in the North Sea.

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