$120 million in a portfolio of 446 distributed-generation and utility-scale assets across 23 states, including California, New Jersey and the New England region. The portfolio operates 446 MW of gross capacity, which is enough electricity to power over 73,000 homes. Distributed solar power generation provides solar energy resources by installing generation tools and technologies in proximity to the end users of the power. For example, a solar power generation system can be installed on rooftops of houses and commercial buildings that will then use the energy.
$160 million in a pair of wind farms in Norway, including one of the largest wind power parks in the region. The wind farms operated a combined 2,146 MW of gross capacity, which can power over 105,000 homes. Norway, Denmark and Sweden source a significant amount of energy from renewable resources, which has allowed for the electrification of a large energy-intensive manufacturing sector and the widespread use of electricity for heating.
Other sustainability-driven investment highlights include a total of $2.2 billion of “green bonds” earmarked for climate-related or environmental projects purchased by our public credit desk through December 31, 2021.
2. 2021 figures are from 1/1/2021–11/30/2021 due to the Blackstone transaction that took effect in December 2021.
Our approach and structure to sustainable investing will likely evolve as the expected separation of the Life & Retirement business from AIG.