Blackrock Selling Portfolio Of 14 French Solar Parks

The real assets division of US investment manager BlackRock Inc has agreed to offload a portfolio of 14 operating solar parks in France, it said on Tuesday.

The particular assets were put on stream between 2013 and 2015. They were constructed and refinanced by BlackRock and are now considered a de-risked portfolio, BlackRock Real Assets said.

The photovoltaic parks will be sold to a consortium comprising South Korea’s financial investment company Samsung Securities, private equity investor Samchully Asset Management and asset manager Schroder AIDA. Financial details about the planned deal were not provided.

For Samchully AMC, the transaction, in which it will serve as the asset manager, will be the first one on the French renewable energy market, according to the press release. Samsung Securities is the financial investor, while Schroder AIDA is the asset management advisor in the deal.

RBC Capital Markets and Linklaters LLP are acting as BlackRock’s financial and legal advisors.



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