Tag Archives: Bloomberg

Blackstone looking to raise $40bn Infrastructure Fund

Blackstone, the biggest name in private equity has turned its attention to infrastructure. Blackstone’s head of private equity Joe Baratta, excited about the infrastructure opportunities that a Donald Trump presidency could potentially unleash, planted his flag firmly in the sand:

“To be relevant in that end of the market, I think you need to be deploying billions of dollars at a time, not hundreds of millions. So you’re probably talking about a vehicle that’s 20, 30, 40 billion dollars of equity,” he told Bloomberg TV. When asked if that meant aiming for the largest vehicle ever raised, he added: “Correct. That would be the ambition if this comes to fruition, which we certainly think it will, in terms of the public sector aligning with the private sector to invest in the fabric of this country.”

The largest vehicle to date is Global Infrastructure Partners’ third fund, which closed recently at $15.8 billion. The second-largest is Brookfield’s third infrastructure fund, which closed last summer on $14 billion. Baratta’s upper end effectively dwarfs the two combined. Go big or go home. Continue reading Blackstone looking to raise $40bn Infrastructure Fund

US Navy Invests in Solar Energy Farm near Phoenix, AZ

The US Navy has invested an undisclosed amount in the Mesquite solar farm in sun-rich Arizona, allowing for an expansion of the facility that is anticipated to make it the world’s largest solar farm. This solar energy investment can be called the largest renewable energy purchase till date by the US Govt.

Climate News Network’s Paul Brown reports that the solar energy farm, located about 40 miles west of Phoenix, will generate 210 MW of power, a third of the energy needed to power 14 Navy and Marine Corps sites. The solar energy farm, slated to go online next year, is expected to save the Navy at least $90 million in energy costs over the course of the 25-year contract with Sempra US Gas & Power, which operates it. The Mesquite facility, which completed its first phase of buildout in late 2012, has a potential capacity of 700 megawatts, which would power up to 260,000 homes. It requires no water to operate and reduces greenhouse gas emissions. Continue reading US Navy Invests in Solar Energy Farm near Phoenix, AZ