New Partnership to Drive Capital into Distributed Clean Energy Markets

Written By: Jen Neville
November 14, 2018

Distributed Clean Energy Markets

CleanCapital recently announced a new partnership with BlackRock’s global renewable power platform with the closing of a 46.9 MW portfolio of solar assets from ATN International, Inc. subsidiary, Ahana Renewables. The portfolio consists of 60 operating solar projects located in California, Massachusetts and New Jersey. The acquisition is CleanCapital’s largest to date.

This transaction highlights both CleanCapital and BlackRock Real Asset’s ability to execute on large, complex deals in the distributed clean energy space. CleanCapital’s technology-driven approach, coupled with access to dedicated capital from funds managed by BlackRock, streamlines and expedites due diligence and analysis, allowing complex deals to close efficiently.

In partnering with CleanCapital, BlackRock Real Assets has expanded its footprint in the renewable power sector and further demonstrated its commitment to the attractive investment opportunities in sustainable real assets presented by the global energy transition.

CleanCapital has now acquired nearly $250m of operating solar assets in the United States since its founding less than 3 years ago. It has done so by pairing institutional capital with technology solutions that simplify underwriting in this fragmented space. According to sources, this was the first acquisition that was managed entirely through CleanCapital’s diligence software platform.

“This transaction ushers in a new phase for CleanCapital as we launch our partnership with one of the world’s leading renewable power investors, BlackRock, leveraging our cutting edge software,” stated Thomas Byrne, CEO of CleanCapital. “As the energy landscape becomes cleaner and more distributed, CleanCapital will continue to create solutions and partnerships that deliver capital throughout this transforming market.”

“BlackRock Real Assets is excited to launch this new partnership with CleanCapital, which will allow us to more efficiently deploy capital in the distributed generation sector of renewable power on behalf of our clients. Investors are increasingly interested in the investment opportunities presented by the rapidly changing clean energy space, and we’re pleased to invest in solar assets that are well-positioned to capitalize on those trends,” added David Giordano, Managing Director and Head of Renewable Power Americas and APAC at BlackRock. “We look forward to working with CleanCapital as we continue to grow our investments in distributed clean energy.”

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