Norwegian SWF makes first investment in unlisted green project

Wind turbines

Norway’s Government Pension Fund Global, the largest sovereign wealth fund in the world, announced its first investment in an unlisted renewable energy infrastructure project.

The GPFG will acquire 50% of Danish firm Ørsted’s Borssele 1 and 2 offshore wind farm for €1.4 billion ($1.66 billion). The Danish company will remain the operator of the project, located in Dutch waters, the GPFG said in its announcement on April 7.

In January, the Norwegian Ministry of Finance allowed the fund to start

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