BlackRock to acquire PV installer solarZero

BlackRock Real Assets has entered into an agreement to buy solarZero, a New Zealand-based solar energy services company.

BlackRock will acquire solarZero for an undisclosed amount but has pledged to invest more than NZD100 million (US$59.9 million) over the next three years to drive the expansion of the company's solar and battery technology platform.

solarZero offers a smart solar energy service for residential, small businesses, and special projects. To date, the firm has installed about 8,500 solar arrays for homes and businesses in New Zealand.