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BlackRock, GE Renewable venture closes fund for distributed generation projects

Distributed Solar Development LLC closed a $250 million fund for the development of a portfolio of distributed generation projects through 2020.

Distributed Solar Development is a joint venture of GE Renewable Energy and a fund managed by BlackRock Real Assets.

The fund was financed by Morgan Stanley, Silicon Valley Bank and Fifth Third Bank, according to an Oct. 23 new release.

BlackRock Real Assets is a BlackRock Inc. subsidiary and GE Renewable Energy is owned by General Electric Co.