BlackRock fund acquires 17 MW of solar farms in UK

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
BlackRock fund acquires 17 MW of solar farms in UK

BlackRock has announced the acquisition of two operational solar projects in the UK from IB Vogt, a German PV solar developer.

BlackRock acquired the assets through Renewable Income UK (RI-UK) fund, a fund focused on investing in wind and solar assets in the UK.

The two projects - the 11.9 MW Ardleigh solar farm located in Essex and the 5 MW Drakelow solar farm in Derbyshire -  have been operational since March 2016. The projects are supported by 20-year fixed price green certificates.

This transaction is part of a broader partnership with IB Vogt who will continue to provide long-term operations and maintenance services for these projects. 

Over the last two years, BlackRock has invested in more than 20 solar projects in the UK representing 146 MW of capacity, generating enough renewable energy to power over 168,000 homes annually.

Rory O’Connor, Managing Director and Head of Renewable Power for Europe at BlackRock, said:

“We are very pleased to invest in the Ardleigh and Drakelow solar projects on behalf of our clients. This transaction represents BlackRock’s continued focus on renewable power investments, where the firm has over $2.8 billion of equity assets under management. We continue to see the UK as an attractive market for wind and solar assets where BlackRock invested in more than 45 projects.“

Stewart Reed, Managing Director, UK strategic clients at BlackRock, said:

“UK institutional investors, with their long investment horizons, are a natural fit to benefit from investment into private market assets such as renewables. Pension funds are thirsty for yield to meet their liabilities and the sector offers access to less correlated, more attractive returns which traditional asset classes are struggling to provide.”

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.