Norway’s Sovereign Wealth Fund Pushes into Renewables with $1.6 Billion Orsted Deal

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    Greensea Systems
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    Reuters

    By Gwladys Fouche and Nikolaj Skydsgaard

    OSLO, April 7 (Reuters) – Norway’s $1.3 trillion sovereign wealth fund has made its first direct investment in a renewable energy project, a new asset class for the world’s largest state-owned investor, it said on Wednesday.

    The fund bought a 50% stake in the Borssele 1 and 2 wind farm off the Netherlands for 1.375 billion euros ($1.63 billion) from Denmark’s Orsted, which will continue to co-own and run the facility.

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