Norway’s sovereign wealth fund has made its first investment in clean energy.

The $1.3 trillion fund is to buy 50% of the Borssele offshore wind farm from Orsted in a deal worth around EUR 1.4 billion. It is the first clean energy investment by the fund.

The wind farm generates enough energy to power a million households in the Netherlands and is the world’s second largest offshore wind farm. The fund also issued a strategy update saying it will become more active in its approach to sustainable investing.