blackrock

Funds raised by the Climate Finance Group will go towards grid-connected and distributed renewables, energy efficiency, low-carbon transportation and energy storage in Africa, Latin America and Southeast Asia.

World's largest asset manager will make sustainability "integral" to its investment portfolios and divest from thermal coal by mid-2020, according to open letters by CEO Larry Fink.

Trillions-worth giant lays out new opportunity areas for its third investment vehicle for global renewables, which has taken just months to raise US$1bn of a US$2.5bn final target.

Distributed Solar Development (DSD), a business backed by BlackRock Real Assets’ Global Renewable Power platform and GE Renewable Energy, has closed on a US$250 million fund financed by Morgan Stanley, Silicon Valley Bank and Fifth Third Bank that will be utilised to fund a portfolio of distributed generation projects through 2020.

Solar deal is latest of a flurry by major US asset managers, joining the likes of Blackrock and Capital Dynamics.

BlackRock-backed firm bags loan as it snaps up 75.2MW portfolio, ING backs Aussie 67.8MW, Fund manager Basalt to back C&I pipeline.

BlackRock took an 80% stake in the new company, Distributed Solar Development, in an undisclosed deal. The new business will design, build, own and operate distributed solar and storage solutions for industrial, commercial and public-service customers.

ACORE: Industries become top targets of banks, asset managers as US faces policy dilemmas in path to US$1trn-by-2030 clean energy finance goal.

Asset management giant buys Aguascalientes installation three years after project bagged long-term PPAs at Mexico’s first ever energy auction.

Investment management giant becomes shareholder at CleanCapital months after supporting the latter’s acquisition of a 46.9MW US solar portfolio.