Blackstone Portfolio Company Onyx Renewable Partners Establishes Strategic Alliance with Corvias Solutions to Implement Solar...
June 18 2015 - 11:00AM
Business Wire
Blackstone (NYSE:BX), together with its portfolio company Onyx
Renewable Partners (“Onyx”), is pleased to announce a partnership
between Onyx and Corvias Solutions (“Corvias”) to implement
renewable energy offerings across the Corvias Group’s
public-private partnership portfolio, including Department of
Defense, higher education, and municipal partnerships.
Corvias provides long-term and sustainable partnership-based
solutions for the program, construction, and asset management of
military and student housing and public infrastructure. By
implementing an environmentally responsible and at scale renewable
solution, Onyx and Corvias are assisting public institutions such
as the U.S. military in their efforts to create more resilient and
sustainable power solutions as well as greater energy cost savings
and predictability.
Onyx is owned by funds managed by Blackstone and was established
in October 2014 to identify and to develop North American renewable
power projects. Blackstone has been a long-time supporter of U.S.
military service members and their families, pledging in April 2013
to hire 50,000 veterans across its portfolio over five years.
Matt Rosenblum, Chief Executive Officer of Onyx, said, “It is a
privilege to partner with Corvias to deliver comprehensive solar
generation across its portfolio to support their public partners,
such as the Department of Defense, in achieving their renewable
energy goals. This infrastructure will enable efficient and
sustainable energy solutions and provide significant cost savings
for years to come.”
Greg Cannito, Managing Director of Corvias Solutions, said, “We
are excited to partner with Onyx and Blackstone in offering
tailored solar power solutions to our portfolio of public-private
partnerships nationwide. By doing so, we will be able to deploy
solar as additional value to each of our projects, reducing costs,
and supporting our public partners in meeting their energy and
sustainability goals.”
Sean Klimczak, a Senior Managing Director of Blackstone who
oversees Blackstone's power and natural resources investments,
said, “We are very pleased to have this opportunity to work
together with Corvias in supporting their innovative public
partners. We believe these next-generation renewable energy
projects have enormous potential to improve the quality of life for
US military service members and their families, students and
municipality residents alike.”
About Corvias Group
Corvias Group is a privately-owned company that strives to
tackle tough, large-scale challenges through trusted partnerships
that put client interests first; focus more on performance than
profit; and, produce sustainable long-term solutions. Three
business divisions deliver our mission of Living Made Better –
Corvias Military Living, Corvias Campus Living and Corvias
Solutions. We work on behalf of the U.S. military, colleges and
universities, and public sector agencies to develop tailored
solutions that remedy some of America’s most challenging
deficiencies in infrastructure and facilities caused by chronic
underinvestment. All Corvias Group companies are governed by three
core principles: Be the best provider of service; be the best place
to work; and, generously give back to the communities where we live
and serve. Corvias (kor-vee-us) Group is headquartered in East
Greenwich, R.I. www.corvias.com
About Onyx Renewables
Onyx is a renewable energy development company established by
funds managed by Blackstone Energy Partners that is focused on
greenfield development in the North American solar and wind
sectors. The Onyx team brings over 100 years of collective industry
experience and perspective, having developed more than 760 MW of
renewable projects. As a full service firm with capabilities
including development and construction through financing and
operations, Onyx is able to provide creative solutions to large
energy users and land owners in North America. Onyx prides itself
on its ability to bring together exceptional talent with deep
industry knowledge to solve challenging issues for customers
looking to maximize renewable power generation. Onyx Renewables is
headquartered in New York City. www.onyxrenewables.com
About Blackstone
Blackstone Energy Partners is Blackstone’s energy-focused
private equity business, with a successful record built on
Blackstone’s industry expertise and partnerships with exceptional
management teams. Blackstone has invested approximately $8 billion
of equity globally across a broad range of sectors within the
energy industry.
Blackstone is one of the world’s leading investment firms. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in, and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our asset management
businesses, with over $300 billion in assets under management,
include investment vehicles focused on private equity, real estate,
public debt and equity, non-investment grade credit, real assets,
and secondary funds, all on a global basis. Blackstone also
provides various financial advisory services, including financial
and strategic advisory, restructuring and reorganization advisory,
and fund placement services.
Further information is available at www.blackstone.com. Follow
us on Twitter @Blackstone.
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PressBlackstone Public Affairs212-583-5263orCorviasAlly Quinby,
617-933-5024aquinby@solomonmccown.com
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