Norway's Wealth Fund Buys 49% Stake in Solar, Wind Portfolio From Iberdrola For EUR307 Million
17 Enero 2024 - 1:47AM
Noticias Dow Jones
By Dominic Chopping
Norway's sovereign-wealth fund has agreed to pay 307 million
euros ($334 million) for a 49% stake in a portfolio of solar plants
and onshore wind farms in Spain and Portugal, it said
Wednesday.
Norges Bank Investment Management, the arm of Norway's central
bank that manages the fund, said it will buy the stake from Spanish
energy company Iberdrola, which will remain co-owner and operator
of the portfolio.
The portfolio comprises two solar plant projects and two onshore
wind projects with an installed capacity of 674 megawatts,
equivalent to the annual electricity consumption of 350,000 Spanish
households.
Solar plants make up 60% of the portfolio, while onshore wind
accounts for the remaining 40%, it said.
All four projects are currently under development, and expected
to be completed in 2025-26. Norges Bank Investment Management will
take ownership of these when they become operational.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
January 17, 2024 02:32 ET (07:32 GMT)
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