BlackRock Purchased Interests in an 80MW Wind Portfolio in Iowa

published: 2015-04-23 13:24 | editor: | category: News

A fund managed by BlackRock Infrastructure Investment Group (BlackRock Infrastructure) has purchased a 90% interest in an 80MW Wind Portfolio in Iowa. The portfolio. The Portfolio interconnects with the ITC Midwest transmission system within the Midcontinent Independent System Operator market, and its power output is sold to Central Iowa Power Cooperative pursuant to long-term power purchase agreements

The 80MW portfolio is consisted of the 42.5MW Elk and 37.5MW Hawkeye Wind Projects, 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.

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.

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