BlackRock Real Assets clinches majority equity interest acquisition in NGP

NGP aims to develop a 1GW solar portfolio in Taiwan.

BlackRock Real Assets has entered an agreement to acquire a majority equity interest in New Green Power (NGP), the company said.

NGP aims to develop a 1GW solar portfolio in Taiwan through the next 3 to 5 years as well as pursue further regional expansion.

The investment will be made through a private fund managed by BlackRock Real Assets and will benefit from NGP’s approach in the development, construction, and operation of solar projects.

BlackRock Renewable Power investment team portfolio manager Ross Mackey said the team is looking forward to expanding the partnership and thus grow NGP’s business in Taiwan and across APAC.