BlackRock Targets Storage With New Multibillion-Dollar Renewables Fund

The world’s largest asset manager has a new multibillion-dollar renewable energy fund in the works, and a good chunk of it may go to batteries. Long a major global investor in wind and solar energy, BlackRock has more recently begun buying into energy storage projects — including its acquisition last year of GE’s distributed solar and storage business. Looking out over the next few years, energy storage is one market “where we’ll see the opportunity set expand,” said Martin Torres, managing director and head of the Americas at BlackRock’s renewables group. Torres and his team are also "eagerly watching" the emergence of the U.S. offshore wind market, he told GTM.