Blackstone Acquires Battery Energy Storage Company NRStor C&I
March 04 2020 - 10:01AM
Dow Jones News
By Colin Kellaher
Blackstone Group Inc. Wednesday said funds managed by its
Blackstone Energy Partners unit have acquired battery energy
storage company NRStor C&I L.P. for an undisclosed amount.
The New York investment firm said Toronto-based NRStor has more
than 200 megawatt hours of operational, in-construction and
contracted projects in the growing battery-storage market.
Blackstone Energy Partners, the firm's energy-focused
private-equity business, acquired NRStor from alternative
investment manager Fengate Asset Management and venture-capital
firm Lake Bridge Capital II Inc.
Fengate said its private-equity team has been managing the
NRStor investment on behalf of the LiUNA Pension Fund of Central
& Eastern Canada.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
March 04, 2020 09:46 ET (14:46 GMT)
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