KLP Norfund Investments AS

  • Region: Global
  • Country: Regional
  • Sector: Investment funds
  • Year: 2013
  • Domicile: Norway
  • Instrument: Equity
  • Commitment (MNOK) as of 31.3.2017: 329.5
  • Original Commitment (MNOK): 329.5

KNI is a co-investment vehicle financed jointly by KLP and Norfund and invests equity in selected renewable energy projects within Norfund's investment strategy.

In 2013, KLP and Norfund agreed to co-invest in the finance and clean energy sectors in emerging markets. KLP Norfund Investment AS (KNI) was established with an ownership of 50% each. This was the first time an institutional investor like KLP entered into this type of cooperation.

Norfund and KLP agreed to invest NOK 500 million each over a five years period. They agreed that the investments should be based on commercial risk and return considerations, as well as setting high standards for environmental and social issues.

The agreement between KLP and Norfund is a concrete example of how public capital can contribute catalytically to include private investors and business leaders in the important work to increase the production of renewable energy.

"With this agreement KLP way for other private players, and we hope this is the start of a number of Norwegian investors who want to join us into new markets that desperately need capital and sustainable investments to create economic growth."   (Kjell  Roland, 2013)

 

 

Indirect investments

Investee Sector Country
Lake Turkana Wind Power Limited Energy - wind Kenya
Gigawatt Global Rwanda Ltd Energy - solar Rwanda
PRODERSSA Energy - solar Honduras
Simacel 160 Pty Ltd Energy - solar South Africa
Simacel 155 Pty Ltd Energy - solar South Africa
Scatec Solar Nigeria B.V. Energy - solar Nigeria
Central Solar de Mocuba S.A. Energy - solar Mozambique
d.light design, Inc. Energy - solar Global
Scatec Egypt Energy - solar Egypt
Scatec Mocuba PDF Energy - solar Mozambique
Scatec Rumuturi PDF Energy - solar Kenya

Norfund - The Norwegian Investment Fund for Developing Countries

Fridtjof Nansens Plass 4
N-0160 Oslo