Infrastructure management

The fund is mainly invested in wind and solar projects in Europe and North America. We focus on projects with reduced power price risk, stable cash flow and limited risk to the principal investment. We invest alongside high-quality partners with operational experience.

The fund is invested in renewable energy infrastructure projects to improve the overall diversification. Up to 2 percent of the fund can be invested in unlisted infrastructure for renewable energy.

The management mandate was amended on 1 January 2020 to include this new investment area. The strategy supplements our existing unlisted real estate portfolio, and we draw on our long experience with direct investments. The mandate defines renewable energy infrastructure to cover production, transmission, distribution and storage of energy based on renewable energy sources.

Norges Bank’s Executive Board has established risk limits for geographies, project lifecycle and debt ratios. Within these mandate limits, we can invest directly in assets in developed markets in Europa and North America and in operational or construction phase assets.

Our first investment

On 7 April 2021, we announced our first investment in renewable energy infrastructure. The fund signed an agreement to acquire a 50 percent interest in the Borssele 1 & 2 offshire wind farm located in the Netherlands. Borssele 1 & 2 is currently the largest wind farm in the Netherlands and the second largest in the world, with an installed capacity of 752 MW. The seller of the 50 percent interest was Ørsted A/S. Ørsted will remain co-owner and operator of the project.

Photo credit: Ørsted/Sky Pictures

Last saved: 10/06/2021