BlackRock has acquired a 50 percent interest in a 211MW wind farm in northern Texas from GE Energy Financial Services.
The real assets division of BlackRock took the stake in Grandview wind project, with the rest owned by E.ON Climate and Renewables North America (ECRNA), a subsidiary of E.ON.
The Grandview project is located 30 miles east of Amarillo, has been operational since December 2014 and delivers power to around 64,000 homes through the Competitive Renewable Energy Zones infrastructure in Texas.
In a statement, David Giordano, head of BlackRock’s North American renewables team, said the asset manager is “enthusiastic about its first transaction with GE”, and looks forward to a “long-term partnership with ECRNA”.
BlackRock operates one of the largest renewable portfolios in the world with over $2 billion of assets under management generating a combined 2GW from projects in the US, Canada, Ireland, Sweden, France and the UK.