<article><a href="http://dealstreetasia.com/tag/blackrock-real-assets" target="_blank" rel="noopener">BlackRock Real Assets</a> has acquired a 90 per cent interest in a 200 MW/AC solar portfolio in Queensland, Australia from <a href="http://edifyenergy.com/" target="_blank" rel="noopener">Edify Energy</a>, an Australian utility-scale solar energy company. Financial terms of the deal are undisclosed.</article>

<a href="http://dealstreetasia.com/tag/blackrock-real-assets" target="_blank" rel="noopener">BlackRock Real Assets</a> has acquired a 90 per cent interest in a 200 MW/AC solar portfolio in Queensland, Australia from <a href="http://edifyenergy.com/" target="_blank" rel="noopener">Edify Energy</a>, an Australian utility-scale solar energy company. Financial terms of the deal are undisclosed.
The assets have been acquired through a private fund managed by BlackRock Real Assets that focuses on wind and solar assets globally.
The 150-MW Daydream and 50-MW Hayman solar farms in Queensland are ready for construction and are expected to be fully operational in 2018. Edify will retain 10 per cent interest and provide the projects with construction and long-term asset management services.
This transaction represents one of the largest solar portfolio financing to date in the Australian market, with long-term debt finance provided by The Clean Energy Finance Corporation, Commonwealth Bank of Australia and Natixis.
Charlie Reid, Portfolio Manager on the BlackRock Renewable Power investment team, said: “The acquisition adds further solar resource and country diversification to our global platform and our existing renewable power portfolio.”
This latest transaction adds renewable power capabilities to the local investment platform, as well as builds out and diversifies BlackRock’s Australian business.
BlackRock has invested in more than 90 solar projects globally over the last few years, representing 1,056 MW capacity, that can power  in excess of 340,000 homes per annum. This investment expands BlackRock’s leadership as a global solar investor in Australia, one of the world’s most active renewables and clean energy markets.
Jim Barry, Global Head of BlackRock Real Assets, said: “This transaction demonstrates BlackRock’s continued focus on renewable power investments, which currently amount to more than $4.8 billion of equity assets under management.&#8221;
&#8220;The move into Australia represents a key part of the firm’s long-term renewable power strategy, by which we continue to invest in attractive markets in order to provide a flow of addressable investment opportunities for our clients.”
BlackRock Real Assets, which deals with Private Real Estate Debt &amp; Equity, Real Estate Securities and Infrastructure Debt &amp; Equity via funds, co-investments and managed accounts, currently has $30 billion in invested and committed Real Estate and Infrastructure assets and capital.
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Blackrock Real Assets has acquired a 90% stake in a solar portfolio developed by Australian solar energy firm Edify Energy.

Singapore: BlackRock acquires majority stake in Australian solar portfolio

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Singapore: BlackRock acquires majority stake in Australian solar portfolio

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