Norges Bank Investment Management (NBIM), an entity running Norway's $1.3 trillion sovereign wealth fund - popularly known as the oil fund - has agreed to acquire 50 percent in the Borssele 1 & 2 offshore wind farm in the Netherlands from the Danish offshore wind developer Ørsted in what is the fund's first unlisted renewable energy infrastructure investment.
Europe's biggest utilities Enel and Iberdrola saw the clean energy transition coming decades ago when others baulked at the high cost of producing energy from the sun and wind and instead stuck with coal and oil.
Norway's Aker Offshore Wind and Swedish firm Hexicon have signed an agreement to jointly explore and realize floating wind opportunities offshore Sweden, that could generate "several gigawatts" of renewable power.
Norway will press ahead with North Sea wind power this year, awarding its first development licenses as it spurs the transition of its oil and gas industry and despite its already plentiful renewables supply.
Norwegian energy intelligence group Rystad Energy expects to see an increase in offshore wells drilled this year and the next one, compared to 2020, when the number was hit by low oil prices and the pandemic.