Norwegian Oil Fund Invests 1.4 Billion Euro in Offshore Wind Projects

The Norwegian oil fund (NBIM) has agreed to buy 49-percent stakes in two large offshore wind power projects in Denmark and Germany: Thor and Nordseecluster. The price tag lands at around 1.4 billion euro (over 15 billion kronor).

» Published: March 31 2025

Norwegian Oil Fund Invests 1.4 Billion Euro in Offshore Wind Projects
Photo: Julia Nikhinson AP/TT

The transaction is expected to be completed during the third quarter of this year, according to a press release from NBIM.

The seller is the German energy company RWE, which with a 51 percent stake in the future will also be responsible for operating the wind farms.

Thor and Nordseecluster are still under construction and are expected to be commissioned in 2027 and 2027-2029, respectively. Together, they will have a capacity of 2,640 megawatts – equivalent to more than two of the three nuclear reactors in Forsmark.

NBIM, a pension fund built up from the Norwegian state's oil revenues, manages assets worth nearly 18,480 billion Norwegian kronor and is one of the world's largest owners of listed companies.

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By TTTranslated and adapted by Sweden Herald
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