Norway’s $2.1-trillion oil fund plans to invest in renewable energy assets in the U.S. and expand its clean energy portfolio in Europe. The fund recently hired three people in New York and sees bright prospects in solar, wind, and grid projects in the U.S. despite current political challenges.

The fund’s manager, Norges Bank Investment Management, committed $1.5 billion to Brookfield Asset Management’s latest energy transition fund. This investment will support the development of renewable energy infrastructure and the transition to low-carbon solutions across industries.

Norway’s fund made its largest energy asset deal by acquiring a 46% stake in German grid operator TenneT for up to $11 billion in a consortium deal with APG and Singapore’s GIC. This investment demonstrates the fund’s commitment to sustainable energy projects and low-carbon solutions.

Read more at Yahoo Finance: Norway’s $2.1 Trillion Oil Fund Seeks Renewables Deals in U.S.