The Norwegian Stabilization Fund invests in renewable energy sources for the first time

Vjetroelektrane Borssele 1 & 2 /Foto: Orsted

The Norwegian Investment Fund announced that for the first time it was investing in a renewable energy source project – the largest stabilization fund in the world purchased for 1.375 billion EUR a 50 percent share of the wind farms Borssele 1 and 2 along the Dutch coast from the Danish company Orsted, according to a Reuters report.

The agreement was signed last Tuesday and the completion of the transaction is expected in the second, namely, the third quarter of this year. Orsted will continue to be a co-owner and manager of the plants,

Such direct investments are a novelty for the Norwegian fund which up to last year could invest only in shares, bonds, and real estate. However, the Fund intends to invest, in the period from 2020 to 2022, about 100 billion Norwegian crones (8.93 billion EUR) in projects of renewable energy not listed on the stock exchange such as wind farms and solar plants.

Borssele is the second largest world off-shore operational wind farm with a capacity of 752 MW.

Wind for sustainability

Hein Prisen, the senior consultant at the Dutch Ecological-Consultant Company, Bureau Waardenburg, which employs 130 workers and is one of the largest of its kind

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