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NBIM Acquires $300 Million Stake in Aypa Power in First Direct Battery Storage Investment
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NBIM Acquires $300 Million Stake in Aypa Power in First Direct Battery Storage Investment
Norges Bank Investment Management (NBIM), the investment manager for Norway’s $2 trillion oil fund, announced that it has acquired a 10% stake in battery storage developer Aypa Power for $300 million, marking the fund’s first direct investment in battery storage. Founded in 2017, Aypa Power develops, owns, and operates utility-scale energy storage and hybrid renewable energy projects that assist in the decarbonization of the grid. The company is…
The sovereign investor co-invests 10% of the assets with Brookfield in the US energy infrastructure Aypa Power.
The oil fund invests in an American battery company.
·Oslo, Norway
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The oil fund is making its first direct investment in battery storage.
·Oslo, Norway
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