A fund managed by BlackRock Real Assets has completed the acquisition of a 100 per cent interest in two operational wind projects in Ireland from GE Energy Financial Services.
The 17-megawatt Acres wind farm located in Donegal and the 34-megawatt Barranafaddock wind farm located in Waterford have been operational since mid-2015. The projects are supported by a 15-year power purchase agreement.
The projects benefit from GE technology with a long-term Operations & Maintenance (O&M) agreement in place.
“We are very pleased to invest in the Acres and Barranafaddock wind projects on behalf of our clients. This transaction represents BlackRock’s continued focus on renewable power investments, where the firm has over USD2.5 billion of equity assets under management,” says Rory O’Connor, managing director and head of renewable power for Europe at BlackRock.
BlackRock operates one of the largest renewable power investment platforms in the world and has invested equity capital in more than 75 renewable power projects in recent years.
To date, BlackRock Real Assets has a total invested portfolio of approximately 2 GW of generating capacity across wind and solar projects located in the US, Canada, Ireland, Sweden, France and the UK.
