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BlackRock closes $400m of infrastructure debt deals

By James Buckley - Wednesday, February 14, 2018 10:12

BlackRock’s Global Infrastructure Debt Team closed more than $400m through seven long-term debt investments across the renewables sector last year on behalf of its clients, supporting c.2800 megawatts (MW) of generating capacity.

This brings the Global Infrastructure Debt Team’s total renewables debt portfolio to over $1 billion, forming part of the total $8 billion in Assets under Management (AuM) managed by the team.

Most recently, the team has closed a bilateral solar debt financing in the UK, the financing of the Walney Extension Offshore Wind Farm, where BlackRock was involved from the outset in structuring and negotiating the financing alongside a small group of anchor investors.

Jonathan Stevens, Head of European Infrastructure Debt at BlackRock, said: “Renewable power is increasingly important to our clients and we are delighted to continue building momentum in the sector. We are particularly pleased with our investment in the Walney Extension, where we played a key role in the debt structuring process.”

Erik Savi, Global Head of Infrastructure Debt at BlackRock, said: “The renewables sector globally is one of the most active infrastructure sectors in terms of deal flow, and provides a compelling opportunity to lend long-dated capital at attractive yields on behalf of our clients. More widely, we see many of our clients turning towards infrastructure and real assets investments to meet their long-term investment objectives.” 

“Environmental, Social and Governance considerations are playing an ever-increasing role in the minds of our investors - renewables and wider infrastructure investments, such as social housing, provide our investors with an attractive route to meet their impact investing goals”, added Savi.

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