GE and BlackRock Launch Distributed Solar and Storage Business
GE has announced it’s taking its distributed solar and solar-plus-storage business to a new stage, via a partnership and majority investment by asset management firm and heavyweight renewables investor BlackRock Real Assets. The new company, named Distributed Solar Development, will be 20 percent owned by GE Renewable Energy and 80 percent owned by a fund managed by BlackRock. The business, which has been incubated within GE since 2012, will focus on commercial, industrial and public-sector customers.