Norges Bank Investment Management, the arm of Norway's central bank that manages the country's $2.3 trillion sovereign-wealth fund, agreed to invest 1.2 billion euros ($1.35 billion) in a new fund that will invest in renewable energy infrastructure.

NBIM said Friday that it has committed the investment to Copenhagen Infrastructure Partners' sixth flagship renewable energy fund, CI VI.

"CI VI allows us to keep investing in renewable energy projects at the development stage, and builds on a partnership that has worked well for the fund since 2024," said Harald von Heyden, global head of energy and infrastructure at Norges Bank Investment Management.

CI VI will primarily invest in generation and storage of renewable energy across Organization for Economic Cooperation and Development countries in North America, Western Europe and the Asia-Pacific region.

NBIM committed 900 million euros to Copenhagen Infrastructure Partners' fifth flagship fund, CI V, in 2024.