BlackRock Real Assets has increased its stake in Taiwanese solar energy firm New Green Power (NGP) to own 100%.
In October 2020, private fund managed by BlackRock agreed to acquire a majority stake in NGP for a reported NT$6.8bn (€201m).
Charlie Reid, APAC co-head of climate infrastructure for BlackRock, said: “Taking full ownership of NGP is a key strategic milestone for our climate infrastructure business in the region.”
Reid added that the investment demonstrated BlackRock’s confidence in NGP and its management team to lead the energy transition in Taiwan.
NGP is currently managing and developing more than 1GW of solar energy assets in Taiwan.
To read the digital edition of the latest IPE Real Assets magazine click here.