The Connecticut office of the treasurer has made its first investment purely focused on renewable energy, with a commitment of $100 million to BlackRock Global Renewable Power Fund III (GRP III).
GRP III, the third vintage of BlackRock Real Assets’ global renewable power fund series, is a geographically diversified portfolio of renewable power generation infrastructure assets. The fund will focus on wind and solar energy and also seeks a positive impact that is aligned with the United Nations’ sustainable development goals.
GRP III held its first close in December 2019 with $1 billion in capital commitments. An equity fundraising target was not disclosed.
“The commitment to Blackrock GRP III will help position Connecticut to transition into the future by playing an increasingly important role in reducing overall carbon emission and becoming a leader in clean energy,” said C