Among the projects BlackRock Real bought from J&V Energy in Taiwan, there is a 4.2 MW floating solar power system, which happens to be the first floating PV system acquired by BlackRock anywhere. (Photo Credit: J&V Energy Technology Co., Ltd.)
- BlackRock Real Assets has acquired 28 solar power projects from J&V Energy in Taiwan for an undisclosed sum
- Combined capacity of these projects is 70 MW, and includes rooftop, ground mount and floating PV
- This is the first time BlackRock has invested in Taiwanese solar market
- The deal helps J&V Energy to free up capital to be used for further investments
BlackRock Real Assets has forayed into the Taiwanese solar market by acquiring 70 MW solar portfolio from Taipei based solar energy producer J&V Energy Technology. BlackRock has acquired J&V’s entire equity interest in the capacity – that’s a total of 28 projects through a private fund managed. It is the first-ever acquisition of a solar floating portfolio by the asset manager.
All 28 projects are either operational or under construction to become fully operational in 2019. Along with a floating PV station, the projects acquired include rooftop and ground-mount solar PV systems. Taiwanese solar power company New Green Power (NGP) is working on the projects as EPC contractor and O&M specialist.
BlackRock has not revealed the economics of the deal with J&V. But for J&V the money ‘frees up capital for further investments and enables J&V Energy to continue to originate additional opportunities to create long term value for our shareholders’, said Kai Tan, CEO of J&V Energy.