The world’s largest asset manager, BlackRock, just closed $1 billion of a record breaking $2.5 billion renewable energy fund targeting solar, wind, and energy storage projects.
Greentechmedia reports a majority of the fund may focus on battery storage. According to Greentechmedia, BlackRock has recently been drawn to energy storage projects, including its acquisition of GE’s distributed solar and storage business.
A company press release says BlackRock manages one of the largest global renewable power platforms with $5.5 billion in equity assets and invests in more than 250 wind and solar projects.
BlackRock does have a $17.5 billion investment in coal.