Norway’s sovereign wealth fund, the world’s largest, has made its first investment in renewable energy assets in the United States, buying a 33.3% stake in a portfolio of 17 solar plants and five onshore wind power facilities, it said on Tuesday.
According to Reuters. Norges Bank Investment Management (NBIM) will pay $425 million for its equity stake, with a total enterprise value of the portfolio of about $2.6 billion, it said in a statement.
British Columbia Investment Management Corporation (BCI) and Brookfield will each take a 33.3% stake in the portfolio, which has a capacity of some 2.3 gigawatts (GW) of power, NBIM said.
The assets were located in the United States, an NBIM spokesperson 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 $1.5 billion of equity in additional assets in the United States and Canada.
Norway’s sovereign wealth fund, the world’s largest, has made its first investment in renewable energy assets in the United States, 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 $425 million for its equity stake, with a total enterprise value of the portfolio of about $2.6 billion, it said in a statement.
The assets were located in the United States, 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 some 2.3 gigawatts (GW) 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 $1.5 billion of equity in additional assets in the United States and Canada.
