GE Renewable Energy has sold an 80% stake in its distributed solar and storage solutions business for the commercial, industrial and public sectors to a fund managed by BlackRock Real Assets.
Financial details were not made public. GE Renewable Energy will retain 20% of Distributed Solar Development (DSD), created from GE Solar.
Since 2012, the former GE Solar has grown to more than 60 employees who design, engineer, finance, operate and maintain solar and storage solutions. To date, it has developed 125 projects.