LONDON: The world's biggest asset manager BlackRock said it hopes to raise up to $7 billion for its fourth Global Renewable Power Fund as clients ramp up climate-friendly investments.
The fund, focused on projects in Organisation for Economic Co-operation and Development countries, could invest across wind and solar as well as other clean technologies such as batteries and grid infrastructure.
Demand from institutional investors to back such projects has increased in recent years as more seek to align their portfolios with the transition to a low-carbon economy, BlackRock's Global Head of Climate Infrastructure David Giordano told Reuters.
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