Blackstone Invests $250 Million in New Sustainable-Energy Company ClearGen
September 18 2020 - 7:51AM
Dow Jones News
By Dave Sebastian
Blackstone Group Inc. said it is investing an initial $250
million in ClearGen LLC, a new portfolio company that will finance
and own distributed sustainable energy infrastructure assets
focused on commercial, industrial and institutional customers.
The private-equity giant, through funds managed by its
credit-investment arm GSO Capital Partners LP, expects to increase
its commitment as capital is deployed, the company said Friday.
Co-founders George Plattenburg, who is chief executive, and
Collin Franceschi, who is chief development officer, will lead the
company, Blackstone said. Mr. Plattenburg served as managing
partner at Burton Energy Group. Mr. Franceschi was the manager of
commercial development for Duke Energy Corp.
ClearGen will invest in assets including microgrids, distributed
generation, renewable energy combined with battery storage, energy
efficiency, green transportation and combined heat and power
plants, BlackStone said.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
September 18, 2020 07:36 ET (11:36 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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