Funds managed by Blackstone (NYSE:BX)’s Blackstone Energy Partners completed the acquisition of NRStor C&I L.P., a Toronto, Canada-based developer of battery storage solutions, targeting scale storage deployment opportunities in North America.
Terms of the transaction were not disclosed.
Led by Moe Hajabed, Founder and CEO, NRStor has over 200 MWh of operational, in-construction and contracted projects in the rapidly growing battery storage market.
The company provides storage solutions to customers across North America through a turn-key build, own and operate business model.
NRStor 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.