Norwegian state fund buys half of wind farm on Geland coast | Economy

The Norwegian State Investment Fund has purchased a 50 per cent interest rate on the Porcel 1 & 2 wind farm located off the coast of Zealand. That interest was borrowed from the Danish energy group Ørsted for nearly 4 1.4 billion.

The park has 94 wind turbines and a capacity of 752 MW. This is enough to provide electricity to about 1 million Dutch families every year. It was already rumored last year that Arstead wanted to sell interest at the wind farm. The Danish company is the developer of Porcel 1 & 2, the world’s second largest marine wind farm, located about 23 kilometers off the coast of Zealand. Construction was completed last year.

This is the first time the Norwegian State Investment Fund has shown direct interest in a renewable energy project. The fund invests revenue from the Norwegian oil and gas sector and is the world’s largest state fund with assets under management of nearly கிட்டத்தட்ட 1100 billion. Norwegians want to make more direct investments in clean energy sources.

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