Commercial and industrial decentralized energy solutions provider ENVIRIA Energy has received a capital commitment of more than $200 million from BlackRock.
ENVIRIA offers solar solutions for companies in the commercial and industrial space. The company has a projected development pipeline of more than 2,000 projects across Germany and a projected generation capacity of 2.3 gigawatts.
BlackRock will make the investment via its Global Renewable Power Fund IV, which has a fundraising target of $7 billion, according to Reuters. The fund focused on projects in OECD countries and could invest across wind and solar, as well as other clean technologies, such as batteries and grid infrastructure. In April 2021, BlackRock closed the fund’s predecessor, Global Renewable Power Fund III, with $4.8 billion in equity commitments.
Global law firm White & Case advised ENVIRIA on the transaction.