Vivint Photo voltaic energy, one of the nation's leading providers including residential solar energy systems, will team up with Blackstone to "provide empty, efficient solar energy to Blackstone's positions of commercial and industrial properties, " Vivint, of Lehi, Utah, proclaimed last Thursday.
"We look forward to immersing themselves in, with Blackstone, the various opportunities which exist for us to bring solar energy to the company's commercial and industrial portfolio including properties, " Jan Newman, Vivint Solar's vice president of business technology, said in a release. "To make use of the world's largest private equity determined in our efforts to expand towards commercial and industrial market is a thrilling position for us. "
"Blackstone is probably excited to work with Vivint Solar to learn possibilities within our portfolio, " Offrande Anderson, Blackstone's chief sustainability police officer, added. "We've watched Vivint Photo voltaic energy grow over the past few years and look toward bringing the benefits of solar power to our group of companies. "
Vivint Solar dropped to comment further on the venture.
The previous day, Vivint Solar attained announced that it had entered into its primary solar commercial and industrial investiture fund, to which an investor reportedly is bound to have committed $150 million, enabling Vivint to finance energy-efficient commercial as well as the industrial solar projects. The two accelerates take the company, which previously attained worked in the residential sector most effective, decisively into the commercial and business realms.
As big a deal because potentially is for Vivint Solar, this masturbation sleeve nonetheless still in the family. Msd began as a division of home-security as well as the -automation company Vivint Inc., a large amount stake in which was bought by using Blackstone in late 2012. The besides division was spun off by using an IPO this past October.
Financial multimedia outlet Benzinga. com described Vivint Solar as number two in the published residential solar business, behind most effective Solar City Corp. It taken into consideration that while iconic high-rises like Blackstone's Willis Tower in Chicago are not likely to see solar panels on their roofing, the size of Blackstone's mega-portfolio should contain a choice of demonstration projects of a appropriate size.
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