Blackstone and Vista Equity Partners announced plans to jointly buy Energy Exemplar, an Australian energy market software firm. According to the statement, the purpose of the agreement is to assist Energy Exemplar in expediting technology developments concerning grid stability and the energy shift. Furthermore, both Blackstone and Vista will purchase an equal 50 per cent stake in Energy Exemplar, and Riverside Company, the company’s present owner, will cash out.
Reportedly, no precise financial information was provided by the companies. Blackstone and Vista received financial advice from William Blair and legal guidance from Kirkland & Ellis LLP. Jones Day and Herbert Smith Freehills provided Energy Exemplar with legal guidance, while Lazard served as the company’s exclusive finance advisor.
In January 2022, Invenergy Renewables secured an equity investment worth approximately $3 billion from Blackstone. According to a press release, funds managed by Blackstone Infrastructure Partners entered into a definitive agreement with Caisse de dépôt et placement du Québec (CDPQ) and Invenergy for the said investment.
REGlobal’s Views: There has been a noticeable increase in the use of advanced digital analysis tools by utilities, developers and service providers to ensure higher efficiencies and lower failures, reduced costs and enhanced results. With the large volumes of data being created, data analysis and energy market softwares are becoming critical for companies to invest and manage their portfolios.
