Blackstone creates wind and solar energy company; shares rise

IndustriesAssociated Press

The Blackstone Group will partner on a new push to develop utility scale wind and solar power projects in North America.

Blackstone is teaming up with Matthew Roseblum, the founder and CEO at Solops, to create Onyx Renewable Partners. The company will develop, finance, construct and operate renewable energy projects. It will operate as an affiliate of Fisterra Energy, a Blackstone company.

Continue Reading Below

Roseblum's Solops helps clients land funding for solar projects.

Shares of Blackstone Group LP rose 3 percent to $30.32 by midday, ahead of broader market gains.