Norges Bank Investment Management has committed $1 Billion CIP's C IV renewables fund. Fortis Energy and PowerChina have agreed to collaborate on developing 850 MW of wind and solar in Serbia and southeast Europe. Evren, a renewable platform by Brookfield and Axis Energy, will invest $5 billion for renewables in Andhra Pradesh, India.

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Allen Hall: I'm Allen Hall, president of Weather Guard Lightning Tech, and I'm here with the founder and CEO of IntelStor, Phil Totaro, and the chief commercial officer of Weather Guard, Joel Saxum. And this is your News Flash. News Flash is brought to you by our friends at IntelStor. If you want market intelligence that generates revenue, then book a demonstration of IntelStor at IntelStor.com.

Norway's sovereign wealth fund, Norge's Bank Investment Management, has committed one billion dollars Billion dollars to Copenhagen Infrastructure Partners fifth flagship renewable energy fund, CIV. The fund invests in offshore and onshore wind, solar farms, grid and distribution, and also storage.

Investments will be equally split between North America, Western Europe, and developed countries in Asia Pacific. But why is Norway putting a billion dollars into CIP? What's the plan for that fund?

Philip Totaro: It's a good question, Allen. I, I think Nordisk Bank has actually had a fairly decent track record of diverting some funds and, and investing them into renewables funds.

Including some much smaller previous investments in with CIP and, and other project development companies or investors in, in renewables. The reason that they're doing it is because and again, as you mentioned, this is the sovereign wealth fund of Norway. They're really just looking to diversify their investment stream beyond just oil and gas.

And so I, I don't know what led them to this relationship with CIP to say, you know what, billion dollars, here you go. But that's that's a lot of money and a lot of trust in being able to invest it and, and see a return that I'm sure Norges Bank is, is looking for.

Joel Saxum: Yeah, I think it's stable cash looking for a stable investment.

And right now you, as you seen the big, the black rocks and the other pension funds these, what would be the equivalent of the size of like the sovereign wealth fund of Norway, putting money into renewables and into infrastructure for the future. Something to remember here is that CIP, the directors of CIP, and the direction of that company, they're all ex Ørsted.

So when you see CIP and Orsted kind of playing in the same arenas, it's because they're from the same stock. So, but one of the things that CIP does is they do and I like the way they're spreading this fund around, but they do do a lot of work in the APAC region and other places around the world.

So not only are you geographically diversifying your investment but putting it in infrastructure as well.

Allen Hall: Turkish company Fortis Energy and Power China. I've signed an agreement to cooperate on the development and construction of over 850 megawatts of new solar and wind projects in Serbia and Southeast Europe.

The partnership aims to support the region's transition to greener and more sustainable energy. Fortis is currently developing 509 megawatts of wind farms in Serbia. For which it recently secured permits. All right, Phil, we've seen a lot of action with Turkey and China,