BlackRock Stands by Solar, Wind as U.S. Energy Demand Grows

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Written by Will Ploch, Assistant Editor-in-Chief for IIR News Intelligence (Sugar Land, Texas)

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Summary

BlackRock is optimistic its infrastructure-focused business, which covers renewable generation and battery storage, will perform strongly across the U.S. in the coming years.

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Keeping an Eye on Load Growth

Multinational investment titan BlackRock Incorporated reported strong across-the-board results for the first quarter of 2026. Much of the resulting attention focused on the company's private credit investments, but one executive noted that fundraising and investment in BlackRock's infrastructure-focused business--which includes power-generation and data-center developments--was exceeding expectations "in a more volatile market environment." According to Industrial Info Resources data, BlackRock's infrastructure business owns more than $20 billion worth of active and proposed projects across the U.S.

"More countries have a greater need to build out their infrastructure, especially with the AI revolution," said Larry Fink, the chief executive officer of BlackRock, in a quarterly earnings-related conference call Tuesday. "More countries are getting back to self-reliance, including finding different sources of power and reducing dependence on energy imports. The need for building out solar is one example."

Indeed, BlackRock already has more than 8.2 gigawatts (GW) of solar projects in development or under construction across the U.S. through its subsidiary Clearway Energy Incorporated, which it acquired in its 2025 acquisition of Global Infrastructure Partners (GIP). This includes 3.7 GW in Texas, where Clearway also is proposing the Cenzio Solar Farm near El Cenizo, which is just south of Laredo.

According to Industrial Info Resources data, the Cenzio Solar Farm is in its early design phases, but it could be generating up to 300 megawatts (MW) by the end of 2029. Subscribers to Industrial Info Resources' Global Market Intelligence (GMI) Power Project Database can learn more--including key components, investment values and necessary equipment--from a detailed project report.

Craig Cornelius, the chief executive officer of Clearway, said in November that the BlackRock subsidiary is positioning itself to serve large-load data centers: "Growth in both the medium and long term reflects the strong traction we've made in supporting the energy needs of our country's digital infrastructure build-out and reindustrialization. We expect this to be a core driver of Clearway's growth outlook well into the 2030s."

By the Numbers

• More than $20 billion: BlackRock-owned projects across the U.S. tracked by Industrial Info Resources
• 8.2 GW: Total capacity of BlackRock's solar-energy projects under construction or in development across the U.S.
• 4.6 GW: Total capacity of BlackRock's wind-energy projects under construction or in development across the U.S.

Standing Out with Stand-Alone

In recent years, battery energy-storage system (BESS) units have become a major force within the power-generation sector, appearing more frequently alongside solar-energy projects. But BlackRock's infrastructure business is proposing two stand-alone developments: the Trimount BESS in Everett, Massachusetts, which is designed to hold up to 700 MW, and the Nottingham BESS in Hillsboro, Oregon, which would carry up to 200 MW. The Trimount project involves repurposing a 100-year old oil terminal.

While both projects are in their early development phases, they could begin construction as soon as next year. Subscribers can read detailed reports on the Trimount and Nottingham projects.

On the wind-generation side, Clearway boasts a pipeline of 4.6 GW for new wind-generation projects across the U.S., as well as 1.3 GW for wind-repowering developments. These include the proposed Barranca Windfarm in Webb County, Texas, which is designed to generate about 600 MW from 180 turbines, and the repowering of the Goat Mountain Windfarm in Sterling City, Texas, which will maintain the 303-MW nameplate capacity while replacing 109 outdated turbines with 69 newer models.

Subscribers can read detailed reports on the Barranca and Goat Mountain projects.

Cornelius said in November that Clearway is shifting toward larger power-generation projects: "The total quantity of late-stage projects that we have that are constructable over the next five years has grown significantly," he said, with most of them "entirely storage or [featuring] a storage component."

Subscribers can click here for a full list of reports for active and proposed solar-generation projects across the U.S. that are owned by BlackRock's infrastructure business.

Subscribers to Industrial Info Resources' GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.

Key Takeaways

• BlackRock's infrastructure-focused business is exceeding expectations in a tricky market environment.
• BlackRock is positioning itself to serve large-load data centers for years to come.
• Its subsidiary Clearway is eying larger power-generation projects, with a big jump expected over the next five years.

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news, and analysis on the industrial process, manufacturing, and energy-related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified, and verified plant and project opportunities. Across the world, IIR is tracking over 250,000 current and future projects worth $30.2 Trillion (USD). Powered by AIVA -- IIR's Artificial Intelligence Verification Agent.