Norway's Sovereign Wealth Fund Buys UK Wind Farm Stake

© Colin Ward / Adobe Stock
© Colin Ward / Adobe Stock

Norway's sovereign wealth fund has bought a 37.5% stake in the 573 megawatts operational wind farm Race Bank offshore Britain for 330 million pounds ($418 million), it said on Monday.

The Norwegian fund would also become responsible for a debt facility of 644 million pounds, it added.

Norges Bank Investment Management said in a statement the deal with sellers Macquarie Asset Management and Spring Infrastructure Capital values the wind farm at around 2.60 billion pounds.

It said Denmark's Orsted will remain as a 50% owner and operator of the wind farm, and Arjun Infrastructure Partners will remain co-investor for 12.5%.


($1 = 0.7893 pounds)

(Reuters - Reporting by Anna Ringstrom, editing by Terje Solsvik)

Current News

Offshore Drilling 2025: 3 Things to Watch During a Year of Market Corrections

Offshore Drilling 2025: 3 Thin

Chevon’s Sanha Lean Gas Connection Project Achieves First Gas off Angola

Chevon’s Sanha Lean Gas Connec

BP and Partners Secure Rights for 450MW Offshore Wind Farm in Japan

BP and Partners Secure Rights

JERA-Led Consortium to Develop Japan’s 615MW Offshore Wind Project

JERA-Led Consortium to Develop

Subscribe for OE Digital E‑News

Offshore Engineer Magazine