Renewable energy – Finance
Norway’s sovereign wealth fund said on Monday to Reuters it will commit 900 million euros ($1.01 billion) to the latest renewable energy fund of investment firm Copenhagen Infrastructure Partners (CIP).
Norges Bank Investment Management (NBIM) committed the sum to CIP’s fifth flagship fund CI V, which invests in offshore and onshore wind, solar farms, grid and distribution, as well as storage, the world’s largest sovereign wealth fund said in a statement.
NBIM, which has assets of $1.7 trillion, invests revenue from Norway’s oil and gas industry in global stocks, fixed income, real estate and renewable energy assets.
“This deal will provide further investment possibilities and exposure to other parts of the value chain, as well as the opportunity to continue building knowledge and experience with new markets and technologies,” the NBIM said.
