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Blackrock takes over 100% Stake in New Green Power (Taiwan) – EQ Mag Pro

Blackrock takes over 100% Stake in New Green Power (Taiwan) – EQ Mag Pro

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BlackRock Real Assets is taking additional stake in New Green Power (NGP), a leading Taiwanese solar developer and operator. The company, which already has acquired a majority interest in the Taiwanese developer in october 2020, will eventually hold 100% equity interest in it, Blackrock said in a statement.

The investment will be made through a private fund that invests in climate infrastructure assets globally and is managed by BlackRock Real Assets.

“Taking full ownership of NGP is a key strategic milestone for our Climate Infrastructure business in the region, and demonstrates our confidence in NGP and its management team to lead the energy transition in Taiwan,” said Charlie Reid, APAC co-head of climate infrastructure for BlackRock.

NGP is currently managing and developing more than 1GW of solar energy assets in Taiwan. It has has earned a reputation as a full-serviced solar company, covering project development, design & planning, engineering & construction (EPC), operation & maintenance and asset management.

Taiwan is targeting to have an installed base of 27GW of renewable power by 2025.

Source: pfie
Anand Gupta Editor - EQ Int'l Media Network