BlackRock Real Assets acquires New Zealand installer solarZero

Facebook
Twitter
LinkedIn
Reddit
Email
solarZero will be investing US$1 billion in solar and battery systems in New Zealand over the next decade. Image: BlackRock.

Private equity giant BlackRock Real Assets has acquired New Zealand solar and energy storage provider solarZero.

BlackRock’s Climate Infrastructure, a subsidiary of BlackRock Real Assets, will provide its expertise to the New Zealand installer to support its expansion both nationwide and into other Asia-Pacific markets.

Over the next decade, the installer will be investing US$1 billion in new solar and battery systems across New Zealand’s residential and commercial rooftop markets.

solarZero said it had built ‘the region’s largest’ virtual power plant (VPP) with its proprietary smart battery and energy management platform.

With a 40% market share in new residential rooftop solar installations in New Zealand, solarZero has nearly 9,000 residential customers generating 89GWh of solar energy and 48MWh of battery storage per year.

Charlie Reid, Asia-Pacific co-head of BlackRock’s Climate Infrastructure team, said: “Our move into New Zealand demonstrates BlackRock’s commitment to invest in attractive markets as part of our broader efforts to offer a flow of addressable global climate investment opportunities for our clients.”

BlackRock continues to increase its investments in renewables after it raised US$4.8 billion last year to fund renewable power generation projects across the globe. It also recently invested US$525 million in Indian energy giant Tata Power, which saw it acquire a 10.53% stake of the company.

27 October 2022
The advanced technology and innovative features of the new ES G2 3kW to 6kW single phase hybrid inverter enable increased savings, with smart loading for optimally timed energy consumption. Join this 40-minute webinar to learn how a true hybrid inverter operates to maximise PV based savings and how the ES G2 addresses the requirements of residential customers.

Read Next

PV Tech Premium
September 30, 2022
As trade bodies call for Ukraine to reach 50% renewables in its power mix by 2030, it will need to install 17GW of solar PV.
September 28, 2022
The ENACT Installer App automates the complete journey of the customer, right from first contact to complete installation.
September 26, 2022
A subsidiary of solar EPC Sterling and Wilson has signed a memorandum of understanding with the government of Nigeria to develop and construct a portfolio of PV and battery energy storage system (BESS) projects in the country.
PV Tech Premium
September 22, 2022
The war in Ukraine, approaching its eighth month, is having an extremely detrimental effect on the country's solar sector.
September 22, 2022
New York Governor Kathy Hochul has launched a solicitation calling for 2GW of large-scale renewables projects in the state.
September 22, 2022
Tech major Amazon has expanded its renewables portfolio globally with 71 new projects with a total capacity of 2.7GW.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 4, 2022
New York, USA
On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)