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

December 9, 2019
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
March 16, 2026
Hamilton Locke partner Matt Baumgurtel warns of a seismic shift as distributed energy resources with “zero marginal cost” emerge.
March 13, 2026
Australia’s MGA Thermal has secured AU$17 million (US$12 million) in new investment for its long-duration thermal energy storage technology as it enters the commercial scale-up phase.
March 12, 2026
Another busy week of BESS news from across Europe, with investors and owner-operators ABO, Field, Aspiravi, Prime Capital, Latvenergo, Sonnedix and Amarenco progressing large-scale projects across Europe.
Premium
March 12, 2026
The LDES Council’s policy team discusses the role of policy and markets in scaling long-duration energy storage globally with ESN Premium.
Premium
March 5, 2026
In this second part of our interview with Wood Mackenzie energy storage analysts, we look at risk factors and mitigation across the European and US markets.