BlackRock Real Assets announced that its Global Renewable Power Fund III (GRP III) has agreed to invest up to $200 million for a 435-megawatt portfolio of solar projects in Chile. The investment will help support Chile’s transition to at least 60 percent renewable energy by 2035, an important goal in the country’s path to carbon neutrality. Chile has some of the highest levels of solar radiation on the planet, offering BlackRock clients a unique opportunity to capitalize on the growth of renewable energy in Latin America.
The GRP III portfolio seeks to benefit from the diversification the Chilean market offers and provides a strong foundation for continued investment in the region.
GRP III recently closed two investments in Chile. First, it partnered with Solek Holdings SE (SOLEK Group), a renewable-power developer focused on the construction and operation of solar power plants, to cooperate on building PMGD/PMG (Pequeños Medios de Generacion Distribuida,
