Sale of the Gretel Solar Portfolio to Atmos Renewables
In December 2021, BlackRock Real Assets sold its 90% interest in the 240 MW Gretel Solar Portfolio (“GSP”) to Atmos Renewables. The GSP comprises the 180 MW Daydream Solar Farm and the 60 MW Hayman Solar Farm co-located in Queensland, Australia.
BlackRock is one of the world’s largest asset managers with approximately US$9.5 trillion of assets under management (“AUM”). The BlackRock Renewable Power team consists of +50 investment professionals, with approximately US$9 billion AUM and +300 wind and solar projects globally.
Atmos Renewables is an investment company owned and managed by First Sentier Investors (“FSI”). FSI is a global asset management group with approximately US$180 billion AUM across various asset classes.
Azure Capital and Natixis acted as financial advisers to BlackRock Real Assets on the sale including the provision of valuation, structuring and strategic advice, and negotiation of relevant transaction agreements.