Blackrock Fund Buys 9-MW Irish Wind Farm from Mainstream

Source Press
Company BlackRock, Inc.Mainstream Renewable Power 
Tags Asset Deals, Deals, Renewable Energy, Power
Date October 03, 2017

(Renewables Now) - BlackRock Inc (NYSE:BLK) on Monday announced the acquisition of a 9-MW wind farm in Ireland from local wind and solar developer Mainstream Renewable Power.

The wind park was acquired through the Renewable Income Europe Fund, which is managed by BlackRock Real Assets and is focused on investing in wind and solar projects. The value of the deal was not disclosed.

The so-called Knockaneden wind farm is situated in Ireland’s Kerry county and is operating under Ireland’s Renewable Energy Feed in Tariff (REFIT) programme. It has been generating electricity for four years. The output of the facility is sold under a long-term power purchase agreement (PPA) with an Irish investment-grade energy supplier.

BlackRock has invested in more than 150 wind and solar projects globally and currently has USD 4.9 billion (EUR 4.18bn) of renewable energy assets under management, said Rory O’Connor, the company’s managing director and head of renewable power for Europe. “We continue to see Ireland as an attractive market for wind assets, with some of strongest onshore wind resource available in Europe,” he added.

According to the press release, through its Renewable Power Group, BlackRock has invested in 3.5 GW of wind and solar assets in the US, Canada, Japan, Australia, Ireland, Sweden, Norway, France and the UK.

Source: EvaluateEnergy® ©2022 EvaluateEnergy Ltd