BlackRock has launched the fundraise for Global Renewable Power Fund IV (GRP IV), the fourth vintage of its Climate Infrastructure franchise. The fund will build on the prior vintages’ success by capturing the evolution of the transition from wind and solar to battery storage, transmission, and sustainable mobility. The launch of GRP IV follows the close of Global Renewable Power Fund III (GRP III) on $4.8 billion in April 2021.

GRP IV is positioned to help investors capture the significant investment opportunities presented by the US$100 trillion transition to a low carbon economy.

The fund aims to capitalize on the three themes driving the implementation phase of the transition: Policy, Technology, and Investor Demand. GRP IV seeks to invest in the front end of the transition through its build-to-core approach, achieving both strong financial & impact returns for investors. BlackRock ’s Climate Infrastructure team has been a pioneer in the space, investing in renewable power since the late 90s and today manages over US$10 billion in client assets. Its investments have powered 101 million homes with clean energy, avoiding 135 million metric tons of carbon emission.