Clean energy, long a fringe domain in the eyes of investors, has unequivocally gone main stream, according to one of the industry’s leading institutional backers.
David Giordano, a managing director at the world’s largest money manager, BlackRock Inc., said wind and solar power have arrived at the “grownups table” of institutional investing.
“It is half of all the new power going onto the grid year over year,” Giordano said in an interview at the Bloomberg New Energy Finance summit in New York. “It is being treated like a real part of infrastructure.”
BlackRock, which has $4.5 trillion in assets under management, operates one of the world’s largest renewable power investment platforms, with roughly 1.9 gigawatts in wind and solar projects in the U.S., Canada, Ireland, Sweden, France and the U.K.