Norway's Sovereign Wealth Fund Buys UK Wind Farm Stake

Published

© Colin Ward / Adobe Stock
© Colin Ward / Adobe Stock

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)

Current News

BP Adds Three Exploration Blocks off Indonesia

BP Adds Three Exploration Bloc

Aquaterra’s RAF System for UK CCS Project Enters Fabrication Phase

Aquaterra’s RAF System for UK

Equinor Extends PSV Contract with Eidesvik Offshore

Equinor Extends PSV Contract w

Northern Lights CCS Fleet Grows with First Bernard Schulte's LCO2 Carrier

Northern Lights CCS Fleet Grow

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine