BlackRock Inc.’s real estate and infrastructure unit has acquired National Renewable Solutions, a developer of utility-scale wind and solar projects in the U.S.
The asset manager’s BlackRock Real Assets now owns 100% of NRS and will operate the company’s current project development pipeline of over 3.5 gigawatts of assets in New Mexico, Colorado, Arizona and Nevada, BlackRock said in statement. The acquisition price was not disclosed.
NRS was founded in 2011 and has developed over 1 gigawatt of clean energy projects that are either already built or starting construction this year. BlackRock Real Assets has invested in 250 wind and solar projects across three continents.