BlackRock wholly owns Distributed Solar Development

BlackRock Real Assets has completed the acquisition from GE Renewable Energy of the remaining 20 percent stake in Distributed Solar Development (DSD), a commercial and industrial (C&I) solar developer and operator in the United States. BlackRock Real Assets now owns 100 percent of DSD.

The investment, made through BlackRock’s Global Renewable Power II Fund (GRP II), follows an initial investment in July 2019 in which the fund took an 80 percent stake in DSD. It allows for BlackRock to fund greater near-term growth in the platform, which starting in 2021 is expected to consistently deploy over 200 megawatts of renewable energy annually.

Launched as a start-up within GE, DSD will design, engineer, finance, operate and maintain solar and storage systems for the commercial, industrial, and public sectors.