Funds managed by Blackstone Group have sold a portfolio of commercial and industrial solar and energy-storage projects in the United States.
SDCL Energy Efficiency Income Trust paid $150 million.
The deal includes a 50 percent stake in Onyx Renewable Partners, the development platform formed by Blackstone in 2016 to identify and to develop North American renewable energy power projects.
Blackstone would remain a 50 percent partner in Onyx.
SDCL would fully acquire four portfolios totaling more than 175 megawatts and a 50 percent interest in Onyx’s follow-on pipeline, projected to exceed 500 megawatts over the next five years.
The four portfolios comprised over 200 operational, construction and development stage rooftop, carport and “private wire” ground-mounted solar PV projects, located in 18 U.S. states.
Clients include municipalities, universities, schools, hospitals, military housing providers, utilities and corporates.
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