{"id":121421,"date":"2021-04-11T07:22:20","date_gmt":"2021-04-11T14:22:20","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2021\/04\/norways-huge-oil-backed-wealth-fund-invests-in-an-offshore-wind-farm"},"modified":"2021-04-11T07:22:20","modified_gmt":"2021-04-11T14:22:20","slug":"norways-huge-oil-backed-wealth-fund-invests-in-an-offshore-wind-farm","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2021\/04\/norways-huge-oil-backed-wealth-fund-invests-in-an-offshore-wind-farm","title":{"rendered":"Norway\u2019s huge oil-backed wealth fund invests in an offshore wind farm"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/norways-huge-oil-backed-wealth-fund-invests-in-an-offshore-wind-farm.jpg\"><\/a><\/p>\n<p>Norway\u2019s sovereign wealth fund has agreed to pay around 1.375 billion euros ($1.63 billion) for a 50% stake in one of the world\u2019s biggest offshore wind farms, <a href=\"https:\/\/www.cnbc.com\/quotes\/ORSTED-DK\" target=\"_blank\">Orsted\u2019s<\/a> 752 megawatt (MW) Borssele 1 &amp; 2 facility.<\/p>\n<p>Managed by Norges Bank Investment Management, the fund \u2014 whose wealth stems from Norway\u2019s vast North Sea oil and gas reserves \u2014 is the world\u2019s largest and worth more than $1.3 trillion. In an announcement Wednesday, NBIM described the deal as its \u201cfirst investment in renewable energy infrastructure.\u201d<\/p>\n<p>The transaction is set to complete in the second or third quarter of 2021. Under the terms of the deal, Orsted will retain its position as co-owner of the wind farm and handle operations and maintenance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Norway\u2019s sovereign wealth fund has agreed to pay around 1.375 billion euros ($1.63 billion) for a 50% stake in one of the world\u2019s biggest offshore wind farms, Orsted\u2019s 752 megawatt (MW) Borssele 1 &amp; 2 facility. Managed by Norges Bank Investment Management, the fund \u2014 whose wealth stems from Norway\u2019s vast North Sea oil and [\u2026]<\/p>\n","protected":false},"author":621,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1497,17],"tags":[],"class_list":["post-121421","post","type-post","status-publish","format-standard","hentry","category-energy","category-sustainability"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/121421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/621"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=121421"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/121421\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=121421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=121421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=121421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}