Norges Bank Investment Management (Norges Bank) has acquired a 49 per cent ownership interest in two offshore wind construction projects. These projects are located in Denmark and Germany. The completion of this agreement is expected by the start of the third quarter of 2025. Norges Bank will pay approximately €1,400 million for this ownership interest. The total value of the projects is approximately €2,870 million.
Furthermore, the total commitment of Norges Bank to acquire and fund its share of constructing the wind projects will be approximately €4,000 million. The seller of the 49 per cent stake acquired by Norges Bank is RWE. Additionally, RWE will continue to own a 51 per cent stake and remain the owner and operator of the projects.
The wind farms are named Thor and Nordseecluster and are currently under construction. Thor will utilise 72 wind turbines, each with a capacity of 15 MW, and will have a total capacity of 1,080 MW. Nordseecluster will utilise 104 wind turbines of 15 MW capacity with a total capacity of 1,560 MW. The two wind projects have a combined capacity of 2,640 MW.
