BlackRock Real Estate Buys National Renewable Energy Solutions

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NRS CEO Patrick Pelstring and BlackRock CEO Larry Fink (NRS, BlackRock / Twitter)

NRS CEO Patrick Pelstring and BlackRock CEO Larry Fink (NRS, BlackRock / Twitter)

BlackRock turns its eyes to clean energy by acquiring wind and solar project developer National Renewable Solutions.

The terms of the acquisition were not disclosed, but according to Bloomberg, BlackRock Real Assets will gain 100 percent control over NRS, which has more than 3.5 gigawatts of properties in development.

NRS was founded in 2011 and has completed more than 1 gigawatt of clean energy projects over the past decade.

According to its website, the company has wind power projects. in development in Colorado, Iowa, Minnesota, New Mexico and Texas, and is developing solar and storage projects at utility scale in Colorado, Iowa, Montana, New Mexico and Texas. In addition, NRS is implementing distributed solar and battery generation projects in Delaware, Maine, Maryland and Pennsylvania.

The company also manages several energy projects nationwide, including the Grady Wind Power Center in New Mexico, the South Lovern Wind Field in North Dakota, and the Jeffers Wind Power Center in Minnesota.

As clean energy gains in importance amid global concerns about changing of the climateBlackRock has joined hundreds of investments in clean energy projects. According to Bloomberg, BlackRock Real Assets has invested in 250 wind and solar projects across three continents.

[Bloomberg] – Holden Walter-Warner

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