Blackstone announced today that Blackstone Energy Partners have completed the acquisition of NRStor C&I L.P., a Toronto-based developer of battery storage solutions, targeting scale storage deployment opportunities in North America.
NRStor, a market leader in its home market of Ontario, Canada, now in the United States too, has over 200 MWh of operational, in-construction and contracted projects in the battery storage market. The company provides storage solutions to customers across North America through a turn-key build, own and operate business model.
“Battery storage will play an important role in the North American power grid and be critical to achieving ambitious renewable targets,” said Bilal Khan, Senior Managing Director, Blackstone Energy Partners. “NRStor is a pioneer in energy storage and we look forward to helping the leadership team further build out the company’s platform to reach new markets and opportunities.”
Who are 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.
Who are Blackstone?
Blackstone (NYSE: BX) is one of the world’s leading investment firms. It seeks to create positive economic impact and long-term value for our investors, the companies they invest in, and the communities in which they work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $571 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.