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17/01/2023at 13:55

Oil fund makes first direct investment in Spanish renewables

An agreement between Iberdrola and NBIM could be extended to other countries in the future, the Spanish energy company writes.
Iberdrola headquarters in Bilbao, Spain. | Photo: PR Iberdrola.
Iberdrola headquarters in Bilbao, Spain. | Photo: PR Iberdrola.
by REETA ILONA PAAKKINEN

Norges Bank Investment Management (NBIM) has agreed to acquire 49% of Iberdrola’s wind and solar portfolio for EUR 600m, the manager of Norway’s sovereign fund announces in a press release. 

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