In the international market, Black Rock exceeded a $1 billion fundraising target for the wind & solar investments for its global clean energy fund.
According to a statement on Wednesday, the second global Renewable energy fund or GrpII, managed by black rocks real assets closed after it raised $1.6 billion from 67 pension funds, Insurance companies & Institutional investors.
In a phone Interview David Giordano, head of renewable power for North America, Asia Pacific and Latin America, Said, funds will be invested in projects from North America to Europe, Japan, and Australia as well as Latin America balancing varying weather patterns around the world.
He said,”Despite a lot, a geopolitical movement’s between Brexit and the election here in the USA. We have just seen a huge commitment to renewable energy as a discreet category for institutional investors in infrastructure.
Giordano said,”US President Donald Trump’s efforts to scale back environmental regulation and boost support for coal hasn’t dampened the market for renewable energy because demand is largely coming from a state and corporate level.
He said,”The US is going to continue to be one of the target demanders of capital for new renewable energy project’s, despite the sound bite’s from the Federal Government.
Giordano said,” GRPII fund has already invested almost 20% of the money raised in five wind and solar projects across the US. Norway and Japan according to the statement, It expects to invest its remaining funds within five years.
This article is referred from website renewable energy world.