Pension companies PKA and PenSam are investing in two photovoltaic projects in California and Texas with a total capacity of 588MW.
The Danish investors, representing a combined a wealth of more than DKK450bn (€60bn), are investing €1.5bn in the Prospero and Little Bear solar parks.
PKA and PenSam will take over 50% of the ownership of both facilities, with the joint investment.
Prospero is slated for commercial operation in July 2020 and Little Bear in December 2020.
The pension companies’ joint investment partner AIP Management brokered the agreement for solar farms with US developer Longroad Energy.
PKA chief executive Jon Johnsen said: “If we are to achieve the ambitious targets we set with the government back in September, it requires us to continue to make significant investments in green energy both at home and abroad.
“That is why we are pleased to be able to add such a significant climate investment to our already large portfolio of green projects.”
PenSam chief executive Torsten Fels added, “Although the current markets in many ways create challenges, we maintain the long-term investment strategy, even when it comes to the strategy for more green investments.
“It is important to focus on the green transition that we make with this investment, which will at the same time ensure a stable return for members.”
PKA accounts for 76.9% of the investment and PenSam’s share is 23.1%