Oslo/Estonia — Norway’s $1.3-trillion wealth fund just made its first investment in clean energy infrastructure, more than a year after it was given the go-ahead to move into the asset class.

The world’s biggest sovereign investment vehicle has agreed to buy 50% of the 752MW Borssele 1 and 2 offshore wind farm from Ørsted of Denmark. The deal is worth just under €1.4bn ($1.6bn), it said...

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