Norway’s Norges Bank Investment Management is making its first renewable energy investment in the US, paying US$425 million for a one-third share in a portfolio of renewable energy assets.
The portfolio comprises 22 operating assets totalling around 2.3 gigawatts of capacity, including 17 solar facilities and five onshore wind farms across 11 US states.
Norges is teaming up with British Columbia Investment Management Corp from Canada and New York-based alternative investment firm Brookfield Asset Management to buy the portfolio, with its two partners also holding one-third share each, the world’s largest sovereign wealth fund says in a statement on March 5.
According to Harald von Heyden, global head of energy and infrastructure at Norges, the acquisition is “an important step in diversifying our renewable energy infrastructure portfolio”.
“We are pleased to partner with Brookfield and British Columbia Investment Management as we seek to capture compelling opportunities in one of the world’s largest renewable energy markets,” he says.
Norges Bank Investment Management had $2.2 trillion of total assets as of end-2025.
