BlackRock unit, Chow Energy partner to develop C&I solar projects
The project will reduce a million tonnes of carbon dioxide emissions.
BlackRock’s flagship public-private finance vehicle Climate Finance Partnership (CPF) entered an agreement to support Chow Energy’s development of over one gigawatt (GW) domestic greenfield commercial and industrial solar project in Thailand.
In a joint statement, BlackRock said Chow Energy’s project is expected to cut one million metric tonnes of carbon dioxide emissions over its lifetime.
“We are delighted to make our first venture in Thailand, one of the early movers for renewables in the region,” said Valerie Speth, APAC Co-Head of Climate Infrastructure, BlackRock.
“We look forward to supporting Chow Energy’s business expansion, as well as continuing to scale our CFP platform to mobilize capital into climate-related investments in emerging markets that require it most, with the goal of expediting the transition to a low carbon economy,” Speth added.
This will also contribute to Thailand’s goal to achieve 30% renewable capacity by 2037.