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Norway’s KLP said to have committed $199m to Quinbrook’s Net Zero Power Fund

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Norwegian pension fund Kommunal Landspensjonskasse has committed 2 billion Norwegian kroner ($199 million) to Quinbrook Infrastructure Partners III – Net Zero Power Fund, Pension & Investments reported quoting an email from spokesman Glenn Slydal Johansen.

Quinbrook Net Zero Power Fund invests in solar power with battery systems and in green data centers in the US, UK and Australia.

Two-thirds of the fund’s investment will go in to US companies Primergy Solar and Rowan Digital Infrastructure.

KLP had 710.5bn Norwegian kroner ($71.9bn) in assets as of March 31.

Its 902.9billion kroner-managing parent company KLP Group has a goal of investing 6 billion kroner each year  in climate-related investments, including solar power, battery systems and storage, development of solar cells, wind power, hydropower, offshore wind, district heating, hydrogen, ammonia, biogas and forests.

Relevant businesses now accounts for 8% of KLP Group’s total investment.

Infra specialist Quinbrook raised over $1.6bn for its Low Carbon Power Fund in 2019.

The investment house is focused on the development, construction and long-term operation of lower carbon energy infrastructure assets located across the UK, US and Australia.

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