BlackRock hits final close of third global renewable power fund at $4.8b
A man walks next to a BlackRock sign pictured in the Manhattan borough of New York, October 11, 2015. REUTERS/Eduardo Munoz
April 8, 2021
Global investment manager BlackRock’s arm, BlackRock Real Assets, has hit the final close of its latest global renewable power fund at $4.8 billion, making it the largest independent climate infrastructure fund globally.
Global Renewable Power Fund (GRP) III, which invests in renewable power generation across Americas, Europe, and Asia, attracted commitments from over 100 institutional investors from over 18 countries, the firm said.
The fund is the third vintage of BlackRock’s global renewable power fund series. It seeks to invest across the spectrum of climate infrastructure assets, with a focus on renewable power generation, and energy storage and distribution.
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Press Release – Nautilus Labs, the technology firm advancing the efficiency of ocean commerce through artificial intelligence, has been recognized as a Bloomberg New Energy Finance (BNEF) Pioneer 2021. For more than a decade, the Pioneers program has identified game-changing technologies and innovations with the potential to advance decarbonization and fight climate change.
A team of lead analysts at BNEF evaluated candidates against three criteria: the potential impact on greenhouse gas emissions and the planet; the degree of technology innovation and novelty; and the likelihood of adoption. Nautilus has been selected in the category of “Managing and optimizing long-haul freight.”
Years of neglecting its critical metal supplies is catching up with the United States, as demand for the raw materials needed to build a new green economy that rejects fossil fuels gears up.
US President Joe Biden just announced a $2.3 trillion infrastructure spending package aimed partially at shifting the US transportation system from gas and diesel-based to battery-powered, and more support for renewable energies such as wind and solar over carbon-based sources like natural gas.
The plan is big on promises and appears to benefit many sectors, but details are scant on how the country will source the metals needed for repairing and replacing traditional “blacktop” infrastructure, and minerals that will feed a brand new “mine to battery” supply chain.
2021 will stand out as an acceleration year
With the disruption of 2020, it has never been more important to be able to anticipate change and build resiliency into solar asset management activities.
Luckily, we’ve always been agile as an industry; we’ve always had to adapt, whether it was because suddenly there was a solar tax out of nowhere, or suddenly feed-in tariffs were cut. It’s in our DNA.
We believe that changes that were long in the making will be implemented in very short time frames and that 2021 will stand out as an acceleration year towards industry maturity.
Apr 6, 2021 at 9:49AM
More and more companies are creating renewable energy initiatives to lower their electricity bills, cash in with tax credits, and contributions to their ESG objectives.
Stem has emerged as a leader in clean energy storage and distribution, forging deep customer relationships with many
Fortune 500 companies. Sometime early in 2021, Stem will go public via a reverse merger with
Star Peak Energy Transition Corp (NYSE:STPK) and the combined company seems likely to beat the market for three crucial reasons.
Image source: Getty Images.
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