BlackRock buys the majority stake in GE’s solar and storage business

BlackRock buys the majority stake in GE’s solar and storage business

The giant global asset manager’s backing is a positive sign for the solar segment, which has become increasingly attractive to big investors. “This investment will deepen our clients’ access to the tremendous growth potential in the US solar industry,” David Giordano, BlackRock’s global head of renewable power, said in a news
According to PV-Tech, General Electric (GE) has sold a majority investment in its seven-year-old distributed solar and storage business to global asset manager BlackRock.
BlackRock took an 80% stake in the new company, Distributed Solar Development (DSD). GE will retain a 20% stake. The financial terms of the deal were not disclosed.
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Source:ow.ly/j8OY50v4MHe
Photo:ow.ly/BkRP50v4MHd
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Date: Jul 18, 2019 @ 16:30

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