blackrock inc blk plans to raise up to 7 billion for its fourth global renewable power fund the fund which focuses on projects in organisation for economic cooperation and development nations might invest in wind and solar power and other green technology like batteries and grid infrastructure reported reuters the us and the european union introduced significant financial backing for clean energy to help curb carbon emissions in the fight against global warming which has fueled the movement added the report david giordano global head of climate infrastructure at blackrock told reuters that the demand from institutional investors to support such projects has grown in recent years as more want to align their portfolios with the shift to a lowcarbon economy you have folks now that are really trying to focus their portfolio construction around the different subsectors in infrastructure giordano added blackrock is targeting between 5 billion and 7 billion for its fourth fund after 48 billion was raised for its predecessor which closed in april 2021 according to giordano the fund may contemplate coinvestments and make 18 to 22 investments in various initiatives both in their early stages and those already developed price action blk shares closed lower by 025 at 67823 on wednesday