Norges Bank Investment Management has made a significant leap into the renewable energy sector, committing €900mn to Copenhagen Infrastructure Partners’ (CIP) fifth flagship fund, CI V. This strategic investment not only propels CIP closer to its €12bn target but also marks Norges Bank’s first foray into fund investments.
Norges Bank’s Vision Unveiled
In alignment with its Strategy 25 report, Norges Bank is broadening its investment scope by venturing into renewable energy infrastructure funds. This move is a pivotal part of their strategy to build a robust portfolio centered on wind and solar power acquisitions.
CI V’s Climate-Driven Strategy
With a global investment focus, CI V plans to diversify its portfolio across various technologies, including contracted offshore wind, energy storage, onshore wind, and solar. The fund is primarily targeting low-risk OECD countries in North America, Western Europe, and Asia Pacific.
CI V has already begun deploying its capital, with the recent deals for Liberty Renewables in the US and Elgin Energy in the UK.
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