Funds managed by Blackstone Energy Partners has acquired NRStor C&I from Fengate Asset Management and Lake Bridge Capital II.
Fengate’s private equity team has been managing its investment on behalf of the LiUNA Pension Fund of Central and Eastern Canada.
NRStor C&I, a former subsidiary of NRStor Inc., is an innovative distributed energy resources platform headquartered in Toronto, with more than 200 megawatt hours of operational, in-construction and contracted projects. The company provides energy-as-a-service to customers across North America through a turn-key build, own and operate business model. A pioneer in the rapidly growing battery energy storage market, NRStor C&I is a market leader in its home market of Ontario, Canada, and has expanded into the United States by leveraging its scalable platform built to adapt to new market constructs and opportunities.
