Daegu, South Korea.
Photo: Rushanziatdinov, Pixabay
BlackRock’s Climate Infrastructure enterprise has grown most of its stake in South Korean unbiased energy producer Brite Energy Partners.
The newest transaction, equal to KRW 100 billion, marks BlackRock’s fourth funding in Brite Energy Partners since August 2021.
Brite Energy Partners stated the funding will assist scale its photo voltaic portfolio to greater than 1 GW within the coming years and increase its battery storage and EV charging operations.
The firm presently operates greater than 300 solar energy crops in South Korea. They produce electrical energy and renewable power certificates (RECs), that are bought to home firms aiming to extend their renewable power use.
In March, Brite Energy Partners signed a REC sale settlement with Seoul-based electronics producer LG Innotek for 84.7 MW of renewable power.
“Backed by BlackRock [Brite Energy Partners’] enterprise mannequin and crew from the start,” stated Brite Energy Partners CEO Brian Heeseong Kim. “This extra funding will assist us develop and purchase photo voltaic and [battery energy storage system] property, whereas increasing our EV charging infrastructure to help home corporations’ renewable power transition efforts.
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