### Renewable Energy Investment Partnership in Wind Farms

Norges Bank Investment Management partners with an industrial company to invest in long-term renewable infrastructure.

### Partnership for Renewable Infrastructure Growth: A Long-Term Vision
* 🌬 Today, we are at Puylobo, near Zaragoza, showcasing one of the initial wind farms from our collaboration with Norges Bank Investment Management, featuring a **capacity of 50MW** with **13 turbines of 3.2MW each**.
* 🤝 Norges Bank Investment Management, a significant financial investor, primarily focuses on **equities and fixed income**, and since 2020, has been mandated to invest in **unlisted renewable infrastructure**.
* 💼 Our aim is to allocate **up to 2 percent of the fund** into this asset class, leading to the development of a portfolio projected to reach about **2.5GW**, with a commitment of approximately **€2bn**.
* 🔗 "We seek to invest alongside a **strong industrial player** with **huge sector experience** and **local knowledge**," which helps **mitigate risks** associated with investments.
* 🌍 The success of our partnership is rooted in **trust and openness**, allowing us to build a relationship that facilitates **additional investments** and reflects our **shared ambitions**.
* 🛠 Our collaboration represents a blend of different cultures and companies, emphasizing the **importance of long-term vision and shared goals**.
* 📈 Looking ahead, we aspire to **expand our partnership beyond Spain and Portugal**, exploring opportunities for collaboration **outside the Iberian Peninsula**.

Today we are at Puylobo, close to the city of Zaragoza. This is one of the first wind farms that we incorporated in our partnership with Norges Bank Investment Management. It's a 50MW wind farm, comprising 13 turbines of 3.2MW each.

Good, David. Good to see you. Friend, how are you? All good? Good to see you. Norges Bank Investment Management is a financial investor. We are mainly invested in equities and fixed income. Back in 2020, we got the mandate to start investing

in what we call unlisted renewable infrastructure. And since then, we have started to build a portfolio with a mandate to invest up to 2 per cent of the fund into this asset class. We discovered in Norges Bank Investment Management, one of the most important funds in the world,

a clear partner for us. We are an industrial company with a long-term vision, and what we need is to invest in assets that are going to be in our portfolio for the next 30, 40 or 50 years. The portfolio we are building now will reach about 2.5GW

and, together, we have committed about €2bn. What we seek to do is to invest alongside a strong industrial player with a huge sector experience and local knowledge. In addition, what we see is that having a partner which has developed and constructed and also operates

the wind farm and sits together with us, with their skin in the game, we think that takes down the risk. Part of the success is that we have been able to build the relationship based on trust and openness, and the fact that we have been able

to add more investment to the framework really proves the success of it. We are a combination of different cultures, different companies integrated in the last few years. And, of course, partners are part of the DNA. But the important thing is the long-term view,

and to have the same ambition. What we would like is to expand our collaboration, not only in Spain and Portugal, but also we would like to expand our collaboration outside of the Iberian Peninsula.

Power of partnership: working towards energy goals | FT Energy Source

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Introduction to Puylobo Wind Farm and Partnership

Puylobo wind farm near Zaragoza, one of the first in a partnership with Norges Bank Investment Management.

50MW wind farm with 13 turbines of 3.2MW each.

Norges Bank Investment Management's Investment Strategy

Norges Bank Investment Management invests mainly in equities and fixed income.

Mandate to invest up to 2% of the fund in unlisted renewable infrastructure.

Aiming to build a portfolio of approximately 2.5GW with a €2bn commitment.

Investing alongside a strong industrial player with sector experience and local knowledge.

Partner's involvement in development, construction, and operation reduces risk.

Successful relationship built on trust and openness, leading to increased investment.

Long-Term Vision and Future Collaboration

Emphasis on long-term view and shared ambition.

Desire to expand collaboration beyond Spain and Portugal.