BlackRock Real Assets has agreed to sell a portfolio of four operating solar projects to Ullico. The company purchased, funded and supervised construction on the Ontario-located projects over a timespan exceeding 18 months. The solar farms offer secure, long-term cash flows because of their standardised fixed feed-in-tariff offtake contracts with the Independent Electricity System Operator of Ontario. BlackRock Real Assets has signed an agreement to sell a portfolio of four operating solar projects in Ontario, Canada, to Ullico for an undisclosed sum. Ullico said the deal adds strength to its portfolio, giving it a reliable money source and healthy off-take contracts. “Solar is an important part of our strategy for growth in Ontario as we continue to expand into new markets across North America including Canada,” said Mark McQueen, CEO of SolarCity.
BlackRock Real Assets has agreed to sell a portfolio of four operating solar projects to Ullico. The company purchased, funded and supervised construction on the Ontario-located projects over a timespan exceeding 18 months. The solar farms offer secure, long-term cash flows because of their standardised fixed feed-in-tariff offtake contracts with the Independent Electricity System Operator of Ontario. Ullico said the deal adds strength to its portfolio, giving it a reliable money source and healthy off-take contracts. “Solar is an important part of our strategy for growth in Ontario as we continue to expand into new markets across North America including Canada,” said Mark McQueen, CEO of SolarCity.