By Adria Calatayud

 

ACQUIRER: SDCL Energy Efficiency Income Trust PLC, a U.K.-listed investment company.

SELLER: Funds managed by Blackstone Group Inc.

TARGET: Portfolios of commercial and industrial solar and energy-storage projects in the U.S., together with a 50% interest in Onyx Renewable Partners, the platform that created them.

PRICE: Around $150 million.

STRUCTURE: Blackstone will remain a 50% partner in Onyx, SDCL said.

EXPECTED CLOSE: Completion of the acquisition is expected in the coming weeks.

RATIONALE: The projects acquired are aligned with SDCL's investment strategy, as they will reduce the carbon footprint of commercial and industrial clients, and diversify its portfolio, the company said.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

(END) Dow Jones Newswires

December 24, 2020 03:08 ET (08:08 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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