The investments will be directed towards wind farms, solar farms, energy storage, power grid and distribution. Credit: Yuri Hoyda / Shutterstock.

Norway’s Norges Bank Investment Management has committed an investment of €900m ($1.004bn) in Copenhagen Infrastructure Partners’ renewable energy fund, CI V.

The fund will focus on renewable energy projects across multiple regions, including wind and solar.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The investment aligns with the management mandate provided by the Ministry of Finance in 2019, which supports both direct and indirect investments in unlisted renewable energy infrastructure.

The partnership will involve Copenhagen and Elgin’s retained management collectively investing £250m into the solar developer, supporting Elgin in its transition to becoming an independent power producer (IPP).

CIP and CI V will channel investments into renewable energy sources. It will invest in offshore and onshore wind farms, solar farms, as well as projects related to the grid, distribution, and energy storage.

The investment strategy for the CI V fund is geographically diverse, with the allocated funds to be evenly distributed across North America, Western Europe and selected developed countries within the Asia Pacific (APAC) region.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Norges Bank Investment Management chief investment officer real assets Mie Holstad stated: “This agreement will enable us to invest in renewable energy projects in the development stage. The investment is a valuable addition to the portfolio we are currently building.

“It will provide further investment possibilities and exposure to other parts of the value chain, as well as the opportunity to continue building knowledge and experience with new markets and technologies.

“We have worked for a long time to map out the investment risks and non-financial risks and are pleased with our choice of CIP as a partner. CIP is an experienced industrial partner with a good reputation. Our evaluations have shown that CIP has created value for investors in an open and responsible way.”

In April 2024, CIP agreed to take a majority stake in Irish solar developer Elgin Energy. The bank has invested in six renewable energy projects across Europe’s solar and wind sectors.