BlackRock Infrastructure Announces Purchase of 90% interest in an 80MW Wind Portfolio located in Iowa

NEW YORK--(BUSINESS WIRE)-- A fund managed by BlackRock Infrastructure Investment Group (“BlackRock Infrastructure”) has purchased a 90% interest in an 80MW Wind Portfolio consisting of the 42.5MW Elk and 37.5MW Hawkeye Wind Projects (“Portfolio”), located in Iowa from RPM Access LLC (RPMA). The projects began commercial operations in December 2011, and October 2012, respectively and comprise a total of thirty-two 2.5MW Nordex turbines. The Portfolio interconnects with the ITC Midwest transmission system within the Midcontinent Independent System Operator market. All of the output of the Portfolio is sold to Central Iowa Power Cooperative pursuant to long-term power purchase agreements.

“The Elk and Hawkeye Wind Projects exemplify the growing number of high quality renewable investment opportunities in North America,” said David Giordano, Managing Director at BlackRock. “We are excited to partner with RPMA on our first wind investment in Iowa and look forward to growing our relationship.”

Steve Dryden, CEO of RPMA said “We are excited to announce our first transaction and partnership with BlackRock in the sale of our majority interest in the Elk and Hawkeye Wind Projects. BlackRock’s position as the world’s largest investment manager presents us with a global partner who we can work with to continue to grow our development business.”

Established in 2011, BlackRock Infrastructure manages over $1.5 billion in AUM and commitments focused on renewable power projects. Upon closing the Portfolio, the team will have completed 17 renewable power investments to date, bringing the total invested and committed portfolio to approximately 1,309MW of wind and 178MW of solar projects diversified across the USA, Canada, Ireland, UK, Sweden and France.

About BlackRock Infrastructure

BlackRock, the largest investment manager in the world with $4.774 trillion of AUM, sits at the intersection of global capital and infrastructure investing opportunities. With deep industry expertise, demonstrated access to proprietary deal flow and a purely fiduciary mindset, our experienced investment professionals leverage BlackRock’s unparalleled risk management capabilities and global reach to deliver investment opportunities to meet our clients’ needs. BlackRock Infrastructure provides investors with infrastructure equity and debt investments via Funds, Co-Investments, Managed Accounts and Multi Manager strategies and currently has $6 billion in invested and committed assets. Our team is based in New York, London, Dublin, Paris and Zurich.

About RPM Access

RPM Access is an independent developer, owner and operator of wind energy projects in the Midwest. The company is headquartered in De Soto, Iowa. RPM Access continues to deliver high quality energy projects with a focus on long-term, community-friendly and environmentally sound operations. For more information about the company visit www.rpmaccess.com.

BlackRock
Theresa McCartney, 646-310-1653
[email protected]

Source: BlackRock

You May Also Be Interested In

• BlackRock Activates Retirement Solution Offering A Paycheck For Life
• Charting New Paths: Mannatech Expanding with Thailand Office, Grand Opening, September 2024
• Katapult Holdings, Inc. Files Annual Report on Form 10-K