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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