Norway SWF Makes its First Renewables Infrastructure Investment

Posted on 04/08/2021

On April 7, 2021, Norges Bank Investment Management (NBIM), manager of Norway Government Pension Fund Global, made its first unlisted renewable infrastructure investment by purchasing a 50 percent interest in the Borssele 1 & 2 offshore wind farm located in the Netherlands. Europe is a major player in offshore wind power.

The price for the stake was 1,375 million euros. No external debt financing will be involved in the transaction. Borssele 1 & 2 is the largest operational offshore wind farm in the Netherlands – and the second largest operational offshore wind farm in the world – with an installed capacity of 752 MW.

The seller is Ørsted A/S (formerly DONG Energy). Ørsted will remain co-owner and operator of the project.

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