Norway’s sovereign wealth fund, the world’s largest, has made its first investment in renewable energy assets in the US, buying a 33.3% stake in a portfolio of 17 solar plants and five onshore wind power facilities, it said on Tuesday.
Norges Bank Investment Management (NBIM) will pay $425m (R6.8bn) for its equity stake, with a total enterprise value of the portfolio of about $2.6bn, it said in a statement.
The assets were located in the US, an NBIM spokesperson said.
British Columbia Investment Management Corporation (BCI) and Brookfield will each take a 33.3% stake in the portfolio, which has a capacity of about 2.3 gigawatts of power, NBIM said.
BCI separately said the assets would be owned by the three groups through a jointly held company, Northview Energy, which could invest a further $1.5bn of equity in additional assets in the US and Canada.
Reuters
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.