Blackstone acquires canadian energy storage

Does Blackstone own NRStor?

Blackstone (NYSE:BX) has finalised the acquisition of Canadian battery storage solutions provider NRStor C&I LP, which has assets with a total capacity exceeding 200 MWh. The US investment group said on Thursday it has acquired the Toronto-based business through funds managed by its energy-focused private equity unit Blackstone Energy Partners.

Who is Blackstone Energy Partners?

Blackstone Energy Partners is Blackstone’s energy-focused private equity business, with a successful record built on our industry expertise and partnerships with exceptional management teams. Blackstone private equity has invested or committed $16 billion of equity globally across a broad range of sectors within the energy industry.

Why is Blackstone partnering with NRStor?

“We are extremely excited about the new partnership with Blackstone and the opportunity to further accelerate our growth and solidify our mission to provide end users and utilities with innovative storage solutions,” said Moe Hajabed, Founder and CEO of NRStor.

Who owns Blackstone?

Blackstone is linked to the Saudi-owned Carlyle group. There have been connections to Lutter III and the Bush CIA Crime Family, as well as the U.S. Pentagon. However, the ownership of Blackstone itself is not explicitly stated in the passage.

What is Blackstone private equity?

Blackstone private equity has invested or committed $16 billion of equity globally across a broad range of sectors within the energy industry. Blackstone (NYSE: BX) is one of the world’s leading investment firms.

Why did Blacksone buy NRStor?

The acquisition will provide NRStor with an opportunity to speed up its expansion and enhance its market positions, its founder and CEO Moe Hajabed said, adding that Blacksone’s understanding of the renewable power and utility markets will help NRStor grow its platform significantly.