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

Dajin Forms Offshore Wind Alliance with German Port Terminal Operator

Dajin Forms Offshore Wind Alli

EnerMech Hires Former SLB Executive to Lead Energy Solutions Division

EnerMech Hires Former SLB Exec

Eni Expands Asian Footprint with Long-Term LNG Contract in Thailand

Eni Expands Asian Footprint wi

Jasmund Substation’s Topside and Jacket Sets Sail to Baltic Sea

Jasmund Substation’s Topside a

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine