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BlackRock closes purchase of First Reserve's energy infrastructure funds

BlackRock Inc. has completed its acquisition of First Reserve Energy Infrastructure GP II Ltd., First Reserve Energy Infrastructure GP Ltd. and a limited partnership interest in First Reserve Energy Infrastructure GP II LP from First Reserve Corp. for an undisclosed sum.

The addition of the energy infrastructure team will allow BlackRock's infrastructure investment platform to manage approximately $14 billion in client assets.

As part of the transaction, BlackRock acquired the 298-MW Kingfisher wind facility in Canadian County, Okla., from First Reserve Corp.

The parties consummated the Kingfisher transaction June 2. (FERC Docket EC17-91)

Separately, Novatus Energy LLC recently closed its purchase of the 120-MW Comanche solar facility in Pueblo County, Colo., from First Reserve Energy Infrastructure GP II Ltd., with the understanding that the entity will be acquired by BlackRock. (FERC docket EC17-89)

Kingfisher sells power to Southern Co. unit Gulf Power Co. under a 20-year contract, while Comanche supplies electricity to Xcel Energy Inc. subsidiary Public Service Co. of Colorado under a 25-year agreement.