Norway’s sovereign wealth fund (NBIM) is expanding its energy and infrastructure team as it looks to buy more wind, solar, and grid assets in the US and Europe. (Bloomberg)
The fund’s unlisted renewables portfolio—12 investments worth roughly $14B—includes an $11B stake in Germany’s TenneT grid and a $693M investment in Spanish wind and solar projects. NBIM can deploy up to $40B into renewables, including through funds like Brookfield’s Global Transition Fund II.
Global head of energy Harald von Heyden said the fund remains optimistic about renewables even amid US policy uncertainty, citing growing opportunities in large-scale wind, solar, and transmission projects as energy infrastructure becomes central to economic growth.
Quote of the day: “You have political risk everywhere, you just have to be smart,” he said.