Renewable Energy World | By: Jess Shankleman, Bloomberg | July 6, 2017:
BlackRock Inc. exceeded a $1 billion fundraising target for wind and solar investments for its latest global clean energy fund, underscoring investor interest in renewable energy amid policy uncertainty in key markets.
The second Global Renewable Power Fund, or GRP II, managed by BlackRock’s Real Assets closed after it raised $1.6 billion from 67 pension funds, insurance companies and institutional investors, according to a statement on Wednesday.
Funds will be invested in projects from North America to Europe, Japan and Australia as well as Latin America, balancing its portfolio against varying weather patterns around the world, said David Giordano, head of renewable power for North America, Asia Pacific and Latin America, in a phone interview.
“Despite a lot of geopolitical movements between Brexit and the election here in the United States, we’ve just seen a huge commitment to renewable energy as a discreet category for institutional investors in infrastructure,” he said.
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