Blackstone flexes added muscle
Tie-up with Solops founder to launch Onyx, targeting North America PV, wind
Private equity business Blackstone Energy Partners has teamed up with Matthew Rosenblum, founder of PV funder Solops, to launch Onyx Renewable Partners.
The new entity will be owned by funds managed by Blackstone as an affiliate of its portfolio company Fisterra Energy. Rosenblum will serve as chief executive and Onyx’s primary focus will be to develop, finance, construct and operate utility-scale wind and solar projects in North America.
Rosenblum said: “It is a privilege to have Blackstone partner with us in this venture given their significant experience and leadership in the development and operations of large-scale infrastructure projects.
“The firm’s proven success coupled with its substantial capital resources combined with our existing experiences and relationships in the energy sector positions us to make an immediate impact on the North American renewables market.”
Blackstone senior managing director Sean Klimczak added: “Onyx will expand Blackstone’s and Fisterra’s existing global footprint, add new renewable generation to our nation’s grid and create value for all stakeholders involved.”
Image: the new entity will be owned by funds managed by Blackstone (MorgueFile)