BlackRock Real Assets has extended its renewable energy franchise by appointing managing director Charlie Reid to lead the investment efforts in Asia-Pacific.
Based in Sydney, Mr. Reid is responsible for sourcing, executing and managing renewable infrastructure assets in Asia-Pacific.
Prior to his relocation, Mr. Reid was a portfolio manager for BlackRock Renewable Power’s investment team in London for over seven years. In that role, he established BlackRock’s Renewable Income platform, which now manages over US$2.2 billion of capital, and he has invested in over 70 wind and solar assets across a range of European markets.
“Representing over half of the global renewable infrastructure opportunity, Asia-Pacific is the next frontier in the green energy transition. I am excited to extend our world-class renewable energy platform to the region and to continue to provide sustainable, long-term value for our clients,” Mr Reid said.
Asia-Pacific currently accounts for 44 per cent of global onshore wind and almost 60 per cent of global solar generation capacity, according to BlackRock.
Over 70 per cent of all investment into new power generation in Asia-Pacific – or US$3.5 trillion – will flow into renewables by 2040, according to Bloomberg New Energy Finance.
“In the long-term, investing in renewables makes sense not only for investors but also for the communities in which we live and work, making it a genuine win-win scenario,” BlackRock’s head of Australasia Dominik Rohe said.
“For this reason, we are pleased to continue supporting the region’s increased focus on renewable power. Charlie’s tremendous amount of expertise will strongly contribute to our capabilities in this space, as we build out and diversify BlackRock’s business in the region”.
BlackRock Renewable Power has over US$5 billion of equity assets under management. The team has invested in more than 250 wind and solar projects globally, with 40 projects in Asia-Pacific (Australia, Japan and Taiwan). This represents close to 5 gigawatts of capacity, able to generate clean energy to power over 3 million homes per annum, equivalent to a city the size of London.
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