BlackRock Real Assets

BlackRock Real Assets in the sale of its portfolio of Canadian solar plants to Ullico Inc.


BlackRock Financial Management, Inc.




Mergers and Acquisitions

Date Closed

February 2019

Lead Office


On February 1, 2019, BlackRock Real Assets announced it reached an agreement with Ullico on the sale of a portfolio of four operating solar projects in Ontario, Canada.  This marks the third successful realization for BlackRock’s Renewable Power platform.

BlackRock acquired, financed and oversaw construction of the portfolio over an 18 month period. The solar farms will provide attractive, long-term stable cash flows and high cash yields through standardized fixed Feed-in-Tariff offtake contracts with Ontario's Independent Electricity System Operator.

BlackRock Real Assets is a leading provider of financial technology and manages over US$47 billion in assets on behalf of investors worldwide.

Osler, Hoskin & Harcourt LLP represented BlackRock with a team led by Jake Sadikman (Commercial) that consisted of Marissa Kirsh (Construction), and Shuli Rodal (Competition/Antitrust).