US private equity behemoth BlackRock has bought Global Infrastructure Partners, the owner of Skyborn Renewables and several other green energy players, in a deal worth $12.5bn.

BlackRock will pay $3bn in cash and over 12 million in shares reportedly worth around $9.5bn.

Global Infrastructure Partners (GIP) claims to be the world’s “largest independent infrastructure manager,” overseeing more than $100bn in assets.