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.