Blackstone Energy Transition Partners has been awarded Market Innovation Award of the Year in North America, with judges saying they are redefining the space.

Blackstone Energy Transition Partners is Blackstone’s energy-focused private equity business. The energy investor has invested about $21 billion of equity across a broad range of sectors within the energy industry.

The submission said: “Over the 12 months ended June 2024, Blackstone Energy Transition Partners has monetized $2.7 billion and invested/committed $3.5 billion to new investments.”

Judges felt the fund deserved an award due to its innovative nature of the energy transition investing.  

Judges felt the strategy was “cutting edge”, with one judge adding that it is “redefining the energy transition energy space”.  

The energy transition presents a compelling investment opportunity that requires significant structural changes to how power is produced, stored, transmitted and consumed.

The submission said that to optimize exposure to this challenge, Blackstone Energy Transition Partners employs “a value-added, control-oriented strategy with a focus on sourcing investments that are beneficiaries of energy transition megatrends of renewable energy penetration, electrification, energy efficiency and decarbonization that enables it to invest across the entire energy transition value chain, including high quality equipment manufacturers, service and technology providers, and develop and construct large-scale infrastructure projects that accelerate decarbonization”. 

Members of the independent judging panel highlighted how the team navigates complex and constantly evolving regulatory changes, technology advances, geopolitical tensions, tariffs and permitting complexities in service of our investors.

The submission pointed out that permitting for new transmission lines and interconnection for greenfield power and battery storage projects is a major challenge in the US. 

“In developing transmission projects, we engage in patient and thorough outreach to a broad range of stakeholders to advance permitting in a responsible manner as we seek to construct new high voltage transmission lines with secure long term contracted or regulated revenues,” it added.

In North America, Blackstone acquired a majority interest in Westwood Professional Services, a US-based renewables, power and public infrastructure-focused engineering and design firm.  The company works with clients across renewable energy generation, investment in power grid, and build-out of public and private infrastructure spaces and provides them with front-end engineering design services.

 Blackstone Energy Transition Partners also signed a definitive agreement to acquire Sediver. Sediver is the global leader in toughened glass insulator manufacturing, underpinned by their technology leadership with 120+ patents and a 70-year innovation track record. Sediver supplies a critical element of the electric transmission grid, providing over 600 million insulators, supporting the energy transition through facilitating the transmission of electricity.