The joint venture between Schneider Electric and Huck Capital, GreenStruxure, announced today a strategic partnership with ClearGen, a Blackstone company. Accordingly, this partnership will look forward to accelerating the ability of commercial and industrial (C/I) customers to harness the energy transition.
Read more of our news content, here: New Tool to Increase Grid and Energy Storage Flexibility – EPRI
Thus, GreenStruxure will be in charge of developing and operating highly standardized on-site renewable energy microgrid systems. On the other hand, ClearGen will provide the capital to establish the assets through a $500 million commitment of long-term capital provided by funds managed by Blackstone.
Benefits of this partnership for C/I Customers
According to the companies, customers will considerably benefit from the service solutions that this partnership will bring. Additionally, both GreenStruxure and ClearGen highlighted in a press release that through this venture, they will get 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 increasing. Particularly as consumers want to improve the sustainability of their operations. However, they are constantly faced with higher energy costs and service outages caused by extreme weather and natural disasters. Moreover, building on-site microgrid assets requires significant capital outlay. Therefore, building owners and operators have few options available to take control of their energy.
In this sense, GreenStruxure’s and ClearGen’s solutions can help C/I customers get decarbonized, on-site energy in a simple and accessible way. Furthermore, this solution will put the companies at the forefront of the Energy as a Service market.
Thus, the partnership combines the expertise of both companies and their partner firms. For instance, Schneider Electric is the world leader in the digital transformation of energy management and automation. Similarly, Huck Capital is a leading sustainability impact investor fund. Finally, Blackstone is one of the world’s largest alternative asset managers; besides, it is a market leader in providing large-scale capital solutions to the renewable energy industry.
Reception in GreenStruxure and ClearGen
In this regard, Jose Lorenzo, GreenStruxure CEO, commented, “Look at the environment around us. Indeed, all roads point to clean energy, from increased consumer awareness and policy initiatives to strengthen corporate and financial institutional commitments.”
Moreover, “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,” continued Lorenzo. Thus, “our partnership with ClearGen gives our customers added peace of mind; particularly since they are backed by best-in-class capital expertise, technology, and services.”
Similarly, George Plattenburg, ClearGen Co-Founder and Chief Commercial Officer, pointed out; “Energy consumers face a range of challenges, including decarbonization goals, cost and risk management; and the reliability of supply that affects critical operations.”
Hence, “we are excited to partner with GreenStruxure to identify new investment opportunities,” said Plattenburg. Also, to “provide real value for customers, and meet the significant demand for behind-the-meter energy systems in North America.”
