In January 2013 Blackstone announced a partnership with a highly experienced management team, led by, former executives from top utilities with a wide experience in developing and constructing electrical assets as CCGTs, PV solar plants, wind farms, transmission lines, etc, and setting up, developing and managing electricity and gas supply companies, creating Fisterra Energy, a company owned by funds managed by Blackstone on behalf of its private equity investors.
The aim of this partnership is to identify, develop and invest in large scale independent power projects worldwide that generate attractive returns.
Fisterra’s investment approach is based on the understanding that the value creation is determined by the ability of the team to manage projects comprehensively during all their life, from greenfield development to operation, including the financing and construction phases, and even during the acquisition or exit. Such management together with a financial strength allows to capture the full value between development stage and long-term investors.
Backed by this common principle, Fisterra’s strategy is based on the following fundamentals:
Fisterra Energy invests across the entire energy industry value chain including conventional energy generation, such as gas and thermal electricity generation, renewable energy generation, such as wind, solar, geothermal, biomass, biogas and hydro, energy efficiency, transport, distribution, supply and storage.
Investments are based on fundamental asset value and long-term, highly visible and stable cash flow generation.
Investments throughout the entire life of the projects: assets in development stage, under construction or in operation.
Fisterra intends to develop or acquire assets where value can be added and divest once the assets have an operating track record.
Preference to have a controlling interest in its portfolio companies as its management is the core differentiator lever to maximize projects’ value.
Target is medium and large projects that require intensive management.
Energy investments in various international markets with primary, but not limited, focus in investments in Europe and Latin America.
This unique approach allows Fisterra Energy to identify opportunities across the entire energy industry with potential to generate attractive returns through a combination of strong and predictable cash flow generation, low risk exposure and long-term asset value appreciation.See more