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Toronto-based energy storage firm acquired by Blackstone

Toronto-based energy storage firm acquired by Blackstone

Article from Power Engineering

Utility-scale energy storage, with the potential to enable a historic amount of renewable generation resources, also should increasingly attract high levels of investment in coming years.

That forecast was borne out again this week when private equity giant Blackstone announced that funds within its Energy Partners division have completed the acquisition of a Toronto-based developer of battery storage solutions. NRStor C&I LP targets scale storage deployment opportunities in North America.

The company currently has more than 200 MWh of operational, in-construction and/or contract projects in the North American market. NRStor provides those energy storage solutions through a turn-key build, own and operate business model.

The terms of the transaction were not disclosed. Blackstone also owns Clarion Energy, which is the parent company of Power Engineering, POWERGRID, Renewable Energy World, DISTRIBUTECH and POWERGEN International.

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