Investment firm Blackstone has bought Canadian energy storage developer NRStor for an undisclosed fee.
Terms of the transaction were not disclosed but the sale was to funds managed by Blackstone Energy Partners, Blackstone’s energy-focused private equity business.
NRStor has over 200MWh of operational, in-construction and contracted projects in the battery storage market.
A Blackstone spokesman told BEST it would be “business as usual for NRStor”.
Moe Hajabed, Founder and CEO of NRStor said the deal would “help us significantly expand our platform” across North America.”