BlackRock Real Assets has acquired the entire equity interest in a solar portfolio comprising 28 projects in Taiwan from Taipei-based solar energy producer J&V Energy Technology Co (J&V Energy) for an undisclosed sum.
The assets have been acquired through a private fund managed by BlackRock Real Assets that focuses on wind and solar assets globally.
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.
The acquisition marks its first renewables investment in Taiwan, and first-ever floating solar acquisition. “It demonstrates our commitment to the Asia Pacific region, a strategic priority for our $5 billion global investment platform,” said Charlie Reid, Portfolio Manager of the BlackRock Renewable Power.
BlackRock Real Assets, which deals with private real estate debt & equity, real estate securities and infrastructure debt & equity via funds, co-investments and managed accounts, currently has $41 billion in invested and committed real estate and infrastructure assets and capital.
It has invested in more than 190 solar and wind projects over the last few years, representing close to 6.6 gigawatts of capacity, able to generate enough clean energy to power more than 4.5 million homes per annum.
Established in 2016, J&V Energy is a leading solar energy independent power producer headquartered in Taipei. J&V Energy employs a strong local team of experienced project developers and investment professionals with a track record of financing and operating solar projects in Asia.