Investment management major BlackRock, Inc. (NYSE: BLK) recently revealed that the company is going to acquire Boston-based renewable energy company, Vanguard Renewables, for $700 million, according to a report by Wall Street Journal. Shares of BlackRock were up 1% to close at $634.73 in yesterday’s trading session. BlackRock’s Renewable Energy Focus Amid Economic Turmoil With traditional fuel prices soaring and climate change a reality, BlackRock is looking to fortify its presence in the growing renewable energy space. Taking this into account, this acquisition is in line with the company’s strategy. Vanguard Renewables converts food waste and cow manure into renewable natural gas (RNG) using facilities known as anaerobic digesters.
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