BlackRock’s US$1b renewable fund raise brings energy storage into focus

LinkedIn
Twitter
Reddit
Facebook
Email
Image: BlackRock.

Rooftop solar, energy storage and other less-mainstream green energy technologies are among the targets of a new colossal renewable fund, the creation of the world’s largest asset manager.

BlackRock – a group claiming this year to hold nearly US$7 trillion in assets – said this week it has amassed over US$1 billion in its efforts to raise capital for its latest fund for global renewables, the third of a series it launched in 2011.

The first US$1 billion, collected from 35 American, European and Asian institutional investors, takes the Global Renewable Power III (GRP III) fund closer to its US$2.5 billion final target. The “record” raise was achieved within six months from GRP III’s launch in Q2 2019, BlackRock told PV Tech.

To read the full version of this story, visit PV Tech.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Read Next

Premium
May 29, 2026
Managers of the UK’s largest BESS owner-operator Gresham House Energy Storage Fund (GRID) discussed recent investment news and future strategy this week. 
May 29, 2026
The German network regulator’s decision to maintain grid fee exemptions for battery storage “ensures that billions in private investment remain directed” into the market, Energy-Storage.news has heard.
May 27, 2026
Germany’s energy system regulator has confirmed that BESS projects coming online by 4 August 2029 will be exempt from charging and discharging grid fees, opening up investment again after months of uncertainty.
May 26, 2026
Australia has emerged as the world’s third-largest utility-scale battery energy storage market, with 4.3GW of large-scale battery storage systems reaching financial close in 2025.
May 25, 2026
The transition to new energy technologies, including grid-scale and vehicle batteries, can help fossil-fuel-dependent countries improve their energy security.