This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Blackstone Announces Solar Program For Portfolio Companies

Stocks in this article: BX

Blackstone (NYSE: BX) announced today a solar program that has the potential to cut energy costs by approximately 10% and improve environmental performance across the portfolio of companies and real estate assets it manages on behalf of its investors. This collaborative initiative by Blackstone’s Private Equity, Real Estate, and Advisory businesses is part of an ongoing effort to focus on sustainability across the firm for companies it manages and advises.

The program will install solar panels and systems on the rooftops of select portfolio companies. Installation of these systems is free of charge and they will be owned, operated, and maintained by third party investors in order to minimize operational and economic barriers. Portfolio companies will buy solar power via long-term power purchase agreements, estimated to significantly lower their power costs upon system startup.

Blackstone has selected Smart Energy Capital to support project development and maintenance.

“The scale that Blackstone brings to their program allows an opportunity to collapse both cost structure and project timeline. With over 300 megawatts in US projects in our pipeline, we have the ability to drive project economics to maximize uptake,” said Rob Krugel, Managing Partner of SEC.

“Blackstone’s latest sustainability initiative complements our ongoing success in reducing energy costs and driving environmental performance improvement across our portfolio,” said Don Anderson, Blackstone’s Chief Sustainability Officer. “Our portfolio companies and clients can easily take advantage of this program to speed the application of renewable technologies across our retail, industrial, and hospitality companies.”

About Blackstone:

Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-oriented funds and closed-end funds. The Blackstone Group also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow us on Twitter @Blackstone.

About Smart Energy Capital:

Smart Energy Capital is a finance, investment and development company focused on the commercial and small utility segments of the solar PV industry in North America. The Company enables its customers to consume solar generated electricity without a capital investment and with a reduction in their electricity costs and enables its investors to realize attractive, risk-adjusted returns. The Company has completed over 70 megawatts of projects and deployed over $250 million of project capital for public and private schools and universities, municipalities, commercial entities, investor owned utilities, municipal utilities and electric cooperatives. The Company is headquartered in White Plains, NY and maintains an additional office in Portland, OR. Further information is available at www.smartenergycapital.com.



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs