People & Money

Blackrock invests in 200MW Chilean solar power plant

The world’s largest asset manager, Blackrock, has inked a deal with Solek to build and develop a solar power plant in Chile.

Blackrock, which manages $10trn (£7.3trn) of assets for institutions, has struck over 250 deals with partners globally to develop renewable energy infrastructure through its green energy fund. Today’s deal enables Solek Group to develop up to 28 individual photovoltaic power plant projects with an aggregate capacity of up to 200 MW, according to a company announcement.

“BlackRock is a leading investor in renewable power globally, which means we are entering into a relationship with a stable and renowned partner who will create a long-term outlet for our services,” said Zdeněk Sobotka, founder and chief executive of Solek Group.

Also Read: Nigerian Solar Provider Gets Additional $10M From Nordic Lenders

“This is an important strategic step towards establishing cooperation with leading infrastructure investors, who are key to the further growth of Solek Group, not only in Chile but also in other countries,” he continued.

The solar projects in Chile will help the country meet its goal of net zero carbon by 2050, serving regions with high demand for electricity due to population growth and a developed mining industry according to Solek.

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