BlackRock to acquire NZ solar energy company

Posted by Anton Murray Consulting on . Posted in News


The world’s largest asset manager is set to pick up New Zealand-based solar energy services company, solarZero. BlackRock Real Assets has announced that it has agreed to acquire solarZero, marking its first investment in New Zealand and its first residential solar investment in the Asia-Pacific region. The acquisition will see BlackRock Real Assets spend more than NZ$100 million over the next three years to accelerate the growth of solarZero’s solar and battery technology platform.

The solar energy services company was established in 2008 and has become a leading provider in New Zealand’s solar and smart battery sector, with plans to expand into Australia as well as Japan, South Korea, Taiwan, Singapore and other Asia-Pacific markets. “Our move into New Zealand demonstrates BlackRock’s commitment to invest in attractive markets as part of our broader efforts to offer a flow of addressable global climate investment opportunities for our clients,” said BlackRock Asia-Pacific’s co-head of climate infrastructure, Charlie Reid. “SolarZero is a global pioneer, and we look forward to supporting its expansion into other Asia-Pacific markets and, at the same time, to accelerating New Zealand’s net zero journey.”

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