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Norges Bank Investment Management buys stake in 573 MW operational U.K. offshore wind farm
Transactions - JUNE 17, 2024

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Norges Bank Investment Management buys stake in 573 MW operational U.K. offshore wind farm

by Released

Norges Bank Investment Management has acquired a 37.5 percent interest in a 573-megawatt operational offshore wind farm located in the United Kingdom.

The sales price was £30 million (€35 million/$38 million). he wind farm includes a debt facility with an outstanding balance of approximately £644 million (€761 million/$816 million)at Norges Bank Investment Management’s ownership share.

The sellers of the 37.5 percent interest are Macquarie Asset Management, via Macquarie European Infrastructure Fund 5 (25 percent), and Spring Infrastructure 1 Investment Limited Partnership, a fund managed by Spring Infrastructure Capital Co., Ltd. (12.5 percent). Arjun Infrastructure Partners will remain co-investor for 12.5 percent of the wind farm, and Ørsted will remain as a 50 percent owner and operator of the wind farm.

The wind farm, named Race Bank, reached commercial operations in February 2018. It is located off the Lincolnshire and North Norfolk coast in the U

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