Greenbacker to acquire BlackRock's onshore wind projects.

BlackRock Global Renewable Power platform has reached an agreement with Greenbacker Renewable Energy Compan for the sale of its controlling interest in the 42.5 MW Elk and 37.5 MW Bethel operating wind energy facilities in Iowa. Financial terms were not disclosed. The transaction marks another exit for the GRP platform and is its second bilateral transaction with Greenbacker. “Our second transaction with Greenbacker demonstrates our commitment to delivering value for our clients and to building strong, lasting, relationships with partners in our industry. As one of the early movers in the renewables investment sector, BlackRock is well positioned to source attractive projects that allow our clients to invest capital in the transition towards low carbon energy. The growing demand for clean renewable power, along with the need to replace aging power generation infrastructure in developed markets, presents significant opportunities for investors.” David Giordano, Global Head of Renewable Power, BlackRock.