Investment and advisory firm Blackstone has rolled out a solar program intended to reduce 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.
The program calls for the installation of PV on the rooftops of select portfolio companies. Installation of these systems is free of charge, and the systems 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.
Blackstone has selected Smart Energy Capital to support project development and maintenance.