BlackRock buys 67.7 MW solar plant in Mexico

BlackRock closed the acquisition of a photovoltaic plant in the Mexican state of Aguascalientes on 10 September. The technical committee of the trust approved the deal on 7 April, and the transaction completed officially after all closing conditions in the share purchase agreement were satisfied.

The acquired solar plant has an installed capacity of 67.7 megawatts of alternating current. In Mexico, BlackRock acts as manager of the Development Capital Certificates under the ticker ICUA2CK 14. That CKD fund provides investors exposure to private equity to finance infrastructure, energy, and telecommunications development projects.

The acquisition adds to other recent energy moves by the firm in Mexico. Its subsidiary Global Infrastructure Partners, operating through Saavi Energía, recently agreed to merge power generation assets with Grupo México in an 880 million dollar transaction. Under that agreement, Grupo México holds 70% of the combined consortium and GIP retains the remaining 30%.

The combined platform with Grupo México brings together 14 power plants with a combined installed capacity of 4,510 MW. It also includes an expansion pipeline of approximately 5,000 MW, according to a statement released on the Mexican Stock Exchange on 27 April.