Japan-based Dai-ichi Life Insurance Co. is planning to invest JPY10.5 billion ($100 million) in Global Renewable Power Fund III, managed by BlackRock Real Assets, according to an Oct. 14 news release.
Global Renewable Power Fund III is targeting both construction and operational stage projects for solar, wind and other renewable power generation facilities, such as power transmission, distribution and storage facilities. Geographically, the fund will focus primarily on the OECD member countries.
In December 2019, BlackRock Real Assets reported it had achieved a $1 billion first close for its Global Renewable Power III, with commitments from more than 35 institutional investors in North America, Europe and Asia.
The vehicle seeks to have a positive impact on the environment and society by building renewable power supply chains ranging from power generation to power supply.
