Onyx Renewable Partners is partnering with Credit Suisse to invest over USD300 million to develop, own and finance commercial and industrial sector (C&I) solar generation projects.
Onyx expects this partnership to facilitate the development of more than 130 megawatts of new C&I solar projects within the next 15 months.
Onyx is owned by funds managed by Blackstone.
"We are excited to announce the closing of this facility with Credit Suisse," says Onyx CEO Matt Rosenblum. "In partnership with Credit Suisse and our sponsor, Blackstone, we are excited to leverage Onyx’s vast experience in the C&I sector to rapidly expand our presence in the space.”
Jerry Smith, a Managing Director at Credit Suisse, says: “We are pleased to have this opportunity to partner with Onyx and Blackstone to help bring renewable solar to businesses, governments, non-profits and other companies across the US.”
Sean Klimczak (pictured), a Senior Managing Director of Blackstone who oversees Blackstone's power and natural resources investments, says: “Growth in the C&I solar market is ramping up significantly, and we are very pleased to have this opportunity to work together with Credit Suisse to provide solar solutions to even more businesses and organisations.”
