Announced
Financials
Tags
Majority
Friendly
Private
Pending
Netherlands
Renewable Energy Equipment
Acquisition
Private Equity
offshore wind farm
Cross Border
Single Bidder
Synopsis
Norges Bank Investment Management, a Norway’s oil fund, agreed to acquire a 50% stake in Borssele 1 & 2, an offshore wind farm located in the Netherlands, from Orsted, a Danish multinational power company, for €1.38bn ($1.6bn). Transaction completion expected in the second or third quarter of 2021. "Borssele 1 & 2 is a high-quality offshore wind asset, and the acquisition is in line with our strategy to build a high-quality portfolio of wind and solar power generation assets. The unlisted renewable energy infrastructure strategy supplements our existing unlisted real estate portfolio well, and we draw on our long experience with direct investments," Mie Holstad, Norges Bank Investment Management Chief Real Assets Officer.
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