U.S. BlackRock, CleanCapital buy solar portfolio for $64.3 mln

U.S. investment management company BlackRock Inc. and peer CleanCapital LLC have bought a 46.9-megawatt portfolio of solar power from a unit of wireless and wireline telecommunications services provider ATN International Inc.

ATN said that the purchase price was $64.3 million. Including assumed debt of $55.5 million and some other adjustments, the transaction is worth $120.9 million. The 60 projects are in California, Massachusetts and New Jersey.

The acquisition is part of a new partnership between BlackRock and CleanCapital and is CleanCapital’s largest to date.

Under the arrangement, BlackRock will provide capital for the jointly owned partnership, and CleanCapital will originate, underwrite and manage distributed-energy asset acquisitions.