Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  BlackRock    BLK

BLACKROCK (BLK)
Mes dernières consult.
Most popular
Report
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

BlackRock Invests in Growing Australian Solar Market

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/11/2017 | 06:56am CET
   By Robb M. Stewart 
 

MELBOURNE, Australia--The steady growth of renewable-power generation in Australia has scored backing from BlackRock Inc. (>> BlackRock), which has bought a majority stake in two projects, in one of the country's largest solar financing deals to date.

On Friday, the asset manager said it acquired 90% of the 150-megawatt Daydream and 50-megawatt Hayman solar farms in Queensland state from developer Edify Energy, which will hold the remaining 10% equity interest.

The deal comes just over a month after Tesla Inc. (>> Tesla) Chief Executive Elon Musk agreed to build the world's largest lithium-ion battery system in Australia, collecting power generated by a wind farm in South Australia. South Australia state was hit by a string of blackouts over the past year, raising concerns as some of the country's older coal-fired energy plants are shuttered.

BlackRock said the acquisition adds further solar resources and country diversification to its existing renewable-energy portfolio. Construction on the Australian projects is set to begin and they are scheduled to be fully operational in 2018.

The assets were bought through a private fund managed by BlackRock Real Assets, with long-term debt financing provided by the government's Australia's Clean Energy Finance Corp., Commonwealth Bank of Australia Ltd. and international investment firm Natixis. BlackRock Real Assets has about $30 billion in invested and committed real-estate and infrastructure assets and capital.

Jim Barry, global head of BlackRock Real Assets, said the company's renewable power investments currently amount to more than $4.8 billion of equity assets under management. "We continue to invest in attractive markets in order to provide a flow of addressable investment opportunities for our clients," he said.

Renewable energy still accounts for a relatively small slice of power production in Australia, although the country's major utilities are investing in expanding output.

In May, Origin Energy Ltd. (>> Origin Energy Ltd) sold its Darling Downs solar farm project in Queensland to energy-infrastructure operator APA Group in a deal that had it agree to buy all the power generated by the farm until 2030. In about a year, Origin added more than 650 megawatts of solar to its portfolio as it tracks toward a target of up to 1,500 megawatts of large-scale renewable generation by 2020.

Sustainable Energy Research Analytics, a consultancy, estimated there is about 311 megawatts of solar power now in operation in Australia, 1 gigawatt under construction and a further 6 gigawatts in advanced stages of design.

Write to Robb M. Stewart at [email protected]

Stocks mentioned in the article : BlackRock, Tesla, Origin Energy Ltd
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BLACKROCK
01:06pDJSAMPO OYJ SAMPO PLC : Disclosure Under Chapter 9 Section 5 Of The Securities Mar..
07:11a BLACKROCK : latest big investor to back LSE chair
12/13 BLACKROCK : to back London Stock Exchange chair in TCI spat - source
12/12 BLACKROCK : Vanguard looks to blockchain for index data
12/12 Exxon to provide details on climate-change impact to its business
12/06 BLACKROCK : A WEE DRAM - BlackRock fund listing ‘snubbed by disillusioned ..
12/05 BLACKROCK : president says stocks likely to rise as investors shuffle cash
12/01 BLACKROCK : ex-dividend day
11/30 KBR, Inc. (KBR) Shares Sold by Comerica Bank
11/28DJBLACKROCK : to Buy Citibank's Mexican Asset-Management Business
More news
News from SeekingAlpha
08:31a WISDOMTREE : First Mover Advantage Is Gone
12/13 Seeking Alpha's Weekly Media, Tech, And Finance News Round Up
12/06 DIVIDENDS & INCOME DIGEST : What's On Your 2018 Watchlist?
12/04 An Open Letter To BlackRock Regarding $7 Trillion Of Stock Buybacks
12/04 The Largest (Legal) Money-Transfer Scheme In History
Financials ($)
Sales 2017 12 279 M
EBIT 2017 5 193 M
Net income 2017 3 617 M
Debt 2017 -
Yield 2017 1,96%
P/E ratio 2017 23,13
P/E ratio 2018 20,23
Capi. / Sales 2017 6,69x
Capi. / Sales 2018 6,04x
Capitalization 82 178 M
Chart BLACKROCK
Duration : Period :
BlackRock Technical Analysis Chart | BLK | US09247X1019 | 4-Traders
Technical analysis trends BLACKROCK
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 526 $
Spread / Average Target 2,6%
EPS Revisions
Managers
NameTitle
Laurence Douglas Fink Chairman & Chief Executive Officer
Robert Steven Kapito President & Non-Independent Director
Robert L. Goldstein Chief Operating Officer & Senior Managing Director
Gary S. Shedlin Chief Financial Officer & Senior Managing Director
Derek N. Stein Global Head-Business Operations & Technology
Sector and Competitors
1st jan.Capitalization (M$)
BLACKROCK35.46%82 178
UBS GROUP8.78%69 816
BANK OF NEW YORK MELLON (THE)14.44%56 183
STATE STREET CORP24.70%36 780
AMERIPRISE FINANCIAL, INC.53.11%24 619
FRANKLIN RESOURCES, INC.12.86%24 200