BlackRock Inc. (NYSE: BLK) and NTR plc plan to launch a new renewable power investment group on BlackRock's alternative investment platform.

Under the agreement, NTR's CEO Jim Barry will be chief investment officer of the renewable power team. The BlackRock Alternative Investors (BAI) platform manages over $110 billion of assets in alternative investment strategies.

NTR also will provide market perspective and insights to the renewable power investment team and will retain an economic interest in some of its products. Current and past renewable energy infrastructure activities of NTR have included the development of over four gigawatts of wind and solar projects in the U.S. and Europe.

"Renewable power represents a compelling investment proposition for investors as long-term trends point to an expansion in energy demand. Renewable power is expected to make up the lion's share of relative growth in power generation methods over the next 25 years," said Matthew Botein, head of BAI.

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At December 31, 2010, BlackRock's assets under management were $3.561 trillion.

NTR plc builds and runs green energy and resource-sustaining businesses. Founded in 1978, NTR has evolved from being a developer and operator of infrastructure in Ireland to an international developer and operator of renewable energy (wind, solar and ethanol) and sustainable waste management businesses in the USA and Ireland. NTR employs more than 2,000 people.