Climate Changed
BlackRock Beefs Up Its Bet on Renewables With Small-Scale Solar
- CleanCapital owns and manages $300 million of operating solar
- Institutional investors begin buying pools of smaller solar
Photographer: Laura Segall/Bloomberg
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BlackRock Inc., the world’s largest money manager, is boosting its bet on clean energy.
Funds managed by BlackRock’s renewable power group have agreed to invest in CleanCapital, which owns and manages $300 million worth of small-scale solar systems in the U.S., as well as a partnership the two formed together. CleanCapital declined to say how much BlackRock is investing but said it’s on par with a $250 million partnership the company disclosed almost a year ago with fund manager CarVal Investors.