Private equity firm BlackRock, Inc. (NYSE: BLK) and renewable energy group NTR plc announced an agreement to launch a new renewable power
investment group.
Key renewable power principals from NTR will join the
BlackRock Alternative Investors (BAI) investment platform, which currently manages more than US$110 billion of
assets.
The new investment team will combine the international track-record of NTR in renewable
power infrastructure development with the global fund management and distribution capabilities of
BlackRock.
Current and past renewable energy
infrastructure activities of NTR have included the development of more than 4 gigawatts (GW) of wind and solar
projects in the US and Europe.
The strategic arrangement sees NTR plc’s CEO, Jim Barry, take up the role of Chief
Investment Officer of the renewable power investment team within BAI with responsibility for establishing and
developing the platform.
“Renewable power represents a compelling investment
proposition for investors as long-term trends point to an expansion in energy demand. Renewable power is
expected to make up the lion’s share of relative growth in power generation methods over the next 25 yearssaid,” Matthew Botein,
Head of BlackRock Alternative Investors (BAI).
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