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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Blackstone Teams With Former Iberdrola Renewables Management Team To Found New Energy Development Company

Blackstone (NYSE:BX) today announced a partnership with a highly experienced management team, led by Pedro Barriuso, the former Executive Chairman at Element Power and former head of Iberdrola Renewables, to create Fisterra Energy (“Fisterra”), a company owned by funds managed by Blackstone on behalf of its private equity investors.

Fisterra’s primary focus will be to identify, develop, finance, construct and operate large scale independent power projects in markets with capacity or transmission shortfalls, with a focus in Latin America, Europe and the Middle East. Fisterra will leverage Blackstone’s expertise as an active owner/investor in the energy sector, including a substantial number of power development projects, and its own management team’s extensive experience identifying and developing power projects.

Led by Pedro Barriuso, the Fisterra team has a proven track record of identifying project development and acquisition opportunities that create substantial value for investors. The team has collectively managed the development of more than 25,000 MW of new power projects during the past 15 years and has successfully built more than 8,000 MW of power plant projects in more than 15 countries. The team combines management and technical capabilities covering all aspects of project development, project financing, long-term supply contracts, M&A, construction and operation of energy and infrastructure projects.

The team helped to build a first-class global portfolio of renewable projects for Element Power, achieving a significant position in markets across Europe, North America and Latin America. As head of Iberdrola Renewables and Iberdrola’s engineering and construction arm, Pedro Barriuso and his team transformed Iberdrola Renewables from a start-up in 2002 into the leading international renewable energy company by 2006. The team was responsible for the acquisition of approximately 3,000 MW of wind power in Europe and Latin America; the award, construction and operation of more than 5,000 MW in combined cycle gas plants and over 3,000 km of high voltage lines and substations throughout the world and the development and construction of over 1,500 MW of wind projects all over Europe, the U.S. and Latin America.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

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