"Five or six years ago, funds weren't specifically targeting renewable investment; today it's a key component of infrastructure investment," said David Giordano, managing director and head of North American, Latin American, and Asia Pacific investments at BlackRock, on the sidelines of the Renewable Energy Finance Forum in New York.
Giordano, who is also a board member of the American Council on Renewable Energy, which put on the forum, said renewable energy was no longer considered a niche.
BlackRock's renewable infrastructure investment platform, launched in 2012 by Giordano's team, now manages more than $4 billion in client assets, mostly in wind and solar projects.
Strong interest in green energy comes as Trump is championing fossil fuels and targeting environmental regulations as job killers. Trump’s administration, however, has made no moves to target federal tax incentives for renewable energy projects, which have helped make the technologies more competitive with traditional fuels like coal and natural gas, thanks mainly to bipartisan support in Congress.
Even without federal government involvement, executives noted that U.S. cities, states, and corporations appear committed to renewable energy, as do most other countries. This should help projects attract capital in an era of low interest rates.
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