This marks the investment firm's entry into renewables in Taiwan.
Investment firm BlackRock Real Assets has purchased for an undisclosed price Taiwan-based solar energy producer J&V Energy Technology Co's (J&V Energy) solar energy portfolio. This marks BlackRock Real Asset's first foray into renewable energy in Taiwan. The sale was done via a private fund focusing on wind and solar projects by BlackRock Real Assets. J&V Energy's solar assets comprise 28 solar projects in Taiwan.
Charlie Reid, portfolio manager of the BlackRock Renewable Power, says the acquisition "demonstrates our commitment to the Asia Pacific region, a strategic priority for our US$5b global investment platform."
The fund’s portfolio consists of operating and construction projects expected to be fully operational in 2019, with New Green Power (NGP), a solar developer and operator, continuing to provide engineering, procurement and construction (EPC) as well as long-term operational and maintenance services.
BlackRock Real Assets deals with private real estate debt & equity, real estate securities and infrastructure debt & equity via funds, and co-investments, and managed accounts. The firm currently has US$41b in invested and committed real estate and infrastructure assets and capital. This equates to an investment of more than 190 solar and wind projects or close to 6.6GW of capacity in the past several years. BlackRock Real Assets' renewable energy investments will be able to generate clean energy to power more than 4.5 million homes per annum.
J&V Energy, meanwhile, is an independent power producer headquartered in Taipei that was established in 2016. J&V Energy, as a solar energy leader in Taiwan, has a remarkable track record of financing and operating solar power projects in the region.
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