GreenStruxure, a joint venture of Schneider Electric and Huck Capital, and ClearGen, a Blackstone portfolio company, today announced a strategic partnership that will accelerate the ability for commercial and industrial (C&I) customers to transition to cost effective, sustainable and resilient energy.
Through this partnership, GreenStruxure will develop and operate highly standardized on-site renewable energy microgrid systems. ClearGen will provide the capital to develop the assets through a $500 million commitment of long-term capital provided by funds managed by Blackstone.
Customers in the underserved C&I market will benefit from a turnkey Energy as a Service solution that gives them the energy outcomes they need to meet their business and sustainability goals with no upfront capital outlay and no operational risks.
Demand for on-site renewable energy assets is growing rapidly as consumers are faced with rising energy costs, a desire to improve the sustainability of their operations, and service outages caused by extreme weather and natural disasters. However, building on-site microgrid assets requires capital outlay and building owners and operators have few other options available to them today to take control of their energy. The solution provided by GreenStruxure and ClearGen makes decarbonized, on-site energy simple and accessible for C&I customers.
The partnership combines the expertise and capabilities of leaders in renewable energy and sustainability: Schneider, the world leader in the digital transformation of energy management and automation; Huck Capital, a leading sustainability impact investor fund; and Blackstone, one of the world’s largest alternative asset managers and a market leader in providing large scale capital solutions to the renewable energy industry.
“Look at the environment around us. All roads point to clean energy, from increased consumer awareness and policy initiatives to strong corporate and financial institutional commitments,” said Jose Lorenzo, GreenStruxure CEO. “Building owners and operators who want to adopt a clean, reliable energy solution need a trusted partner ready to work beside them for the long-term to meet their goals. Our partnership with ClearGen gives our customers added peace of mind that they are backed by best-in-class capital expertise, technology and services.”
“Energy consumers face a range of challenges, including decarbonization goals, cost and risk management, and the reliability of supply that affects critical operations,” said George Plattenburg, ClearGen Co-Founder and Chief Commercial Officer. “We are excited to partner with GreenStruxure to identify new investment opportunities, provide real value for customers, and meet the significant demand for behind-the-meter energy systems in North America.”
