Blackstone Acquires Battery Energy Storage Company NRStor C&I

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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