BlackRock Real Assets have acquired a majority stake in a Queensland solar energy project as reported by the Financial Standard.
The 158-megawatt and 50-megawatt solar farms are being financed through BlackRock Real Assets and are expected to start operations by 2018.
Other key takeaways on the solar farm investment are:
- Long-term debt finance of $90 million will be provided by the Clean Energy Finance Corporation, Natixis and the Commonwealth Bank.
- It’s the first time for BlackRock Real Assets to invest in renewables in Australia.
- The new renewable energy investment will take the company’s worldwide portfolio to more than $6 billion.
- BlackRock Real Assets have invested in more than 90 solar projects all over the world.