Tuesday, April 20, 2021
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Home Breaking News Norwegian state fund takes over half of wind farm off the coast...

Norwegian state fund takes over half of wind farm off the coast of Zeeland | NOW

The Norwegian state investment fund has bought a 50 percent interest in the Borssele 1 & 2 wind farm, which is located off the coast of Zeeland. It is the first time that the fund has invested directly in a project around sustainable energy. The interest was taken over for an amount of almost 1.4 billion euros from the Danish energy group Ørsted.

The park has 94 wind turbines and a production capacity of 752 megawatts. That is enough to provide approximately one million Dutch households with electricity every year.

Last year it was already rumored that Ørsted wanted to sell an interest in the wind farm. The Danish company is the developer of Borssele 1 & 2, the second largest offshore wind farm in the world, located approximately 23 kilometers from the Zeeland coast. Construction was completed last year.

It is the first time that the Norwegian sovereign wealth fund has taken a direct interest in a renewable energy project. The fund invests income from the Norwegian oil and gas industry and, with assets under management of nearly EUR 1,100 billion, is the largest state fund in the world. The Norwegians want to make even more direct investments in clean energy sources.

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