BlackRock to acquire majority stakes in new GE solar business under new partnership

General Electric Co and BlackRock have agreed to build a Distributed Solar Development (DSD, a new solar industry powerhouse that the company will design, build, own and operate distributed solar and storage solutions for customers.

BlackRock will take an 80% stake of the Distributed Solar Development (DSD) and GE Renewable Energy will hold a 20% interest in the new venture.

The DSD was launched in 2012 by GE and has developed over 125 solar-power sites for customers in industrial, commercial and government sectors. The team behind the start-up has more than 3 GW of collective development experience. At present, the business employs over 60 people.