BlackRock Real Assets to buy out Taiwanese solar developer NGP

A private climate infrastructure fund managed by BlackRock Real Assets has agreed to take full ownership of majority-owned Taiwanese solar developer and operator New Green Power (NGP).

The real assets team of US investment giant BlackRock Inc (NYSE:BLK) announced the deal on Thursday, without disclosing any financial information, as was the case in October 2020 when it acquired the controlling interest in NGP.

The company designs, develops, builds and operates solar parks in Taiwan. It was established in 2009 and currently manages and develops over 1 GW of solar assets in the country.

“Taking full ownership of NGP is a key strategic milestone for our Climate Infrastructure business in the region, and demonstrates our confidence in NGP and its management team to lead the energy transition in Taiwan,” commented Charlie Reid, APAC Co-head of Climate Infrastructure for BlackRock.

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