Vanguard Renewables, a renewable natural gas (RNG) producer with projects across New England, said it has been acquired by BlackRock Real Assets. 

A source familiar with the deal told NGI that BlackRock purchased the RNG producer from Vision Ridge Partners for $700 million. The investment could help Vanguard Renewables develop its plans to bring more than 100 anaerobic digesters online by 2026. 

“Today is the beginning of an exciting next chapter for Vanguard Renewables as we scale our Farm Powered program across the nation,” said Vanguard Renewables CEO Neil Smith. 

BlackRock’s investment could signal a change of pace of the RNG market, though development in the space is constrained, according to NGI’s Patrick Rau, director of strategy and research. 

“Given...