Blackstone to fund utility scale investments

Investment firm Blackstone last week confirmed a partnership with an experienced management team, led by Matthew Rosenblum, the founder and chief executive officer at Solops, to create Onyx Renewable Partners (Onyx).

By Ritesh Gupta

As a new affiliate of Blackstone portfolio company, Fisterra Energy, Onyx will be owned by funds managed by Blackstone on behalf of its private equity investors.

Onyx’s primary focus will be to develop, finance, construct and operate utility scale wind and solar renewable power projects in North America.

Onyx will leverage Blackstone’s extensive greenfield infrastructure experience, which includes in excess of $25bn of projects over the past decade.

The team combines management and technical capabilities covering all aspects of project development, financing, long-term supply contract negotiation, M&A, construction and operation of energy and infrastructure projects.