June 5 (SeeNews) - US rooftop photovoltaic (PV) systems installer Vivint Solar (NYSE:VSLR) said on Thursday it will provide solar power to the commercial and industrial (C&I) property portfolio of private equity firm Blackstone Group LP (NYSE:BX).
The two parties will work together to explore opportunities within Blackstone's portfolio, Vivint said in a statement, without giving more details. "We see great potential and look forward to exploring, with Blackstone, the various opportunities that exist for us to bring solar energy to its commercial and industrial portfolio of properties," said Jan Newman, vice president of business development at Vivint.
The announcement about the new partnership was made a day after Vivint unveiled the launch of a USD-150-million (EUR 133.5m) fund for investments in the C&I solar market. Before it, the company was focused solely on the residential solar space.
(USD 1.0 = EUR 0.890)