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BlackRock busts USD 1 billion green power goal with second fund

BlackRock's second green energy fund exceeded its USD 1 billion target, highlighting keen investor interest in renewables despite political uncertainty.

Photo: Frank Boutrup Schmidt/Vestas

BlackRock Inc. exceeded a USD 1 billion fundraising target for wind and solar investments for its latest global clean energy fund, underscoring investor interest in renewable energy amid policy uncertainty in key markets.

The second Global Renewable Power Fund, or GRP II, managed by BlackRock's Real Assets closed after it raised USD 1.6 billion from 67 pension funds, insurance companies and institutional investors, according to a statement on Wednesday.

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