BlackRock Real Assets, an affiliate of the world’s largest asset manager, said Thursday it has acquired a 100-percent stake in IGIS Private Equity, which has been rebranded as the Korea Renewable Energy Development & Operation (KREDO) Holdings.

This is BlackRock Real Assets’ first investment in Korea’s offshore wind sector through its latest Global Renewable Power strategy that raised $4.8 billion earlier this year. More than a third of the money has been injected into climate-related infrastructure in the Asia Pacific, according to the company.

BlackRock Real Assets plans to invest more than $1 billion in KREDO Holdings to help Korea reduce CO2 emissions by 7 million tons and contribute to the government’s net-zero initiative.

Read more/Source: The Korea Times