Norway's Sovereign Wealth Fund Buys UK Wind Farm Stake

Monday, June 17, 2024

Norway's sovereign wealth fund has bought a 37.5% stake in the 573 megawatts operational wind farm Race Bank offshore Britain for 330 million pounds ($418 million), it said on Monday.

The Norwegian fund would also become responsible for a debt facility of 644 million pounds, it added.

Norges Bank Investment Management said in a statement the deal with sellers Macquarie Asset Management and Spring Infrastructure Capital values the wind farm at around 2.60 billion pounds.

It said Denmark's Orsted will remain as a 50% owner and operator of the wind farm, and Arjun Infrastructure Partners will remain co-investor for 12.5%.

($1 = 0.7893 pounds)

(Reuters - Reporting by Anna Ringstrom, editing by Terje Solsvik)

Categories: Energy Activity Europe Renewables Offshore Wind

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