|
Listen to this story:
|
- Strategic Investment: Norges Bank invests €900 million in Copenhagen Infrastructure Partners’ renewable energy fund.
- Expanding Portfolio: The investment diversifies Norges Bank’s renewable energy assets and exposure.
- Global Focus: Projects will span North America, Western Europe, and the Asia Pacific.
Norges Bank Investment Management (NBIM) has taken a significant step in expanding its renewable energy portfolio. On August 23rd, NBIM committed €900 million to Copenhagen Infrastructure Partners’ (CIP) fifth flagship fund, CI V. This move aligns with their strategy to enhance investments in unlisted renewable energy infrastructure.
“This agreement will enable us to invest in renewable energy projects in the development stage. The investment is a valuable addition to the portfolio we are currently building,” said Mie Holstad, Chief Investment Officer Real Assets at NBIM. She highlighted that this investment would offer further opportunities in the value chain and help build knowledge in new markets and technologies.
The CI V fund, managed by CIP, will focus on investments across offshore and onshore wind, solar farms, grid distribution, and energy storage. These investments will be geographically diversified across North America, Western Europe, and developed countries in the Asia Pacific.
Holstad emphasized the careful selection process behind choosing CIP: “We have worked for a long time to map out the investment risks and non-financial risks and are pleased with our choice of CIP as a partner. CIP is an experienced industrial partner with a good reputation. Our evaluations have shown that CIP has created value for investors in an open and responsible way.”
Related Article: Copenhagen Infrastructure Partners Raises €2 Billion for Renewable Energy Funds
This commitment marks NBIM’s continued efforts to expand its renewable energy portfolio, building on previous investments in solar and wind energy projects across Europe. The partnership with CIP not only enhances their investment capabilities but also strategically positions NBIM in key global renewable energy markets.