BlackRock eyes up to USD 5bn of Asia-Pacific renewables in 5 years - report

Solar park in US. Author: BlackRockSolar. License: Creative Commons, Attribution 2.0 Generic

June 26 (Renewables Now) - BlackRock Real Assets intends to raise invested capital in Asia-Pacific renewables to between USD 3 billion (EUR 2.64bn) and USD 5 billion over the next three to five years, a director told Bloomberg.

This would be an up to 10-fold increase from the current USD-500-million portfolio, the report says.

By making these further investments, the real assets division of US investment manager BlackRock Inc (NYSE:BLK) will expand the capacity of its assets to 5 GW from 750 MW, Charlie Reid, managing director and portfolio manager of the BlackRock Renewable Power investment team, told the news agency. The focus will be on Australia, Japan, Taiwan and South Korea, Reid has added.

According to the director, BlackRock Real Assets is looking to build some 1 GW of solar power plants in Taiwan in the coming years, while an offshore wind investment is possible by the end of next year. The firm may also make a solar and battery storage investment in South Korea in late 2019 or early 2020.

(USD 1.0 = EUR 0.880)

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