TAIPEI (June 26): BlackRock Real Assets is aiming to boost its renewable power portfolio in Asia by as much as 10-fold as it seeks to keep pace with the world's fastest-growing region for green energy.
The unit of New York-based BlackRock Inc plans to raise invested capital in Asia-Pacific renewables to around US$3 billion to US$5 billion ($4.1 billion to $6.8 billion), from US$500 million now, over the next three to five years, according to Charlie Reid, managing director and portfolio manager of the BlackRock Renewable Power investment team.
"Asia-Pacific is the fastest-growing region for renewable deployment, so that's the reason we're making the commitment to the region," Mr Reid said in a phone interview.
