Norway's Norges Bank Investment Management (NBIM), the manager of the world's largest sovereign wealth fund, has entered the United States renewable energy market for the first time, acquiring a 33.3% stake in a portfolio of 17 solar plants and five onshore wind facilities.

As reported by Reuters, the Norway-based investment manager will pay $425 million (€393 million) for its equity share, with the portfolio's total enterprise value standing at approximately $2.6 billion (€2.4 billion).

The 22-asset portfolio carries a combined generating capacity of 2.3 gigawatts, spanning operational facilities across the United States. British Columbia Investment Management Corporation (BCI) and global asset manager Brookfield will each hold an equal 33.3% stake alongside NBIM.

The three parties will own the assets through a newly established joint venture, Northview Energy. BCI has indicated that Northview could deploy a further $1.5 billion (€1.39 billion) of equity into additional assets

across the United States and Canada, extending the platform's reach significantly.

NBIM's Global Head of Energy and Infrastructure, Harald von Heyden, described the deal as a critical step in diversifying the fund's renewable infrastructure portfolio, targeting operational, de-risked assets in one of the world's most mature and fastest-growing renewable markets.

Historically rooted in Norwegian petroleum revenues, NBIM made its first renewable investment in 2021 with a Dutch offshore wind farm. Its renewable infrastructure arm delivered an 18.1% return in 2025, underlining the strong financial case for unlisted clean energy assets.

The joint venture is expected to launch formally in the second quarter of 2026, pending regulatory approvals.

Explore the full details of the investment in the complete article.