Blackstone and Vista Equity Partners to Acquire Energy Exemplar for $1 Billion

Blackstone and Vista Equity Partners said they will acquire Australia’s Energy Exemplar , a provider of energy market software , from private equity firm Riverside Company in a deal that sources noted was worth more than $US1 billion . Energy Exemplar provides software tools that are used by more than 500 companies in 79 countries to simulate and forecast the electric, water, gas and renewable energy markets.Reuters reported the move earlier in the day before the companies had unveiled the deal.

The deal represents a bet on energy transition, as power utilities, grid operators and renewable energy developers turn to simulation software to fine tune use of production capacity and maximise efficiencies.Energy Exemplar has grown at an annual compound rate of 30 per cent since 2018 under Riverside’s ownership, the sources said.

Bilal Khan, senior managing director at Blackstone Energy Transition Partners, said the company is excited to work with Vista and Energy Exemplar to “drive the next stage of development for Energy Exemplar and its technology solutions supporting grid reliability and decarbonisation”. The New York-based buyout firm has been moving aggressively into this area, declaring last year that it saw an opportunity to deploy $US100 billion in energy transition and climate change solutions projects over the next decade.

Source: News Formal (newsformal.com)

Blackstone Vista Equity Partners Energy Exemplar Acquisition Energy Market Software Private Equity Simulation Software Renewable Energy Efficiency

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Imminent Failure of Bid for Origin Energy Demonstrates Upending of Energy MarketThe imminent failure of a bid for Origin Energy highlights the changing dynamics of the energy market and the growing power of Australia's industry superannuation funds. AustralianSuper's position as a major investor is critical to the fate of the vote on the deal. The consortium has a few weeks to decide on a higher price offer.
Source: FinancialReview - 🏆 2. / 90 Read more »

Energy transition: ‘No choice’ over renewable energy zones despite resistanceEnergyCo CEO James Hay says communities need to understand there is no alternative to building planned Renewable Energy Zones if coal power is to be left behind.
Source: FinancialReview - 🏆 2. / 90 Read more »

ASX drops to 12-month low as energy stocks run out of puffRobust retail sales data have failed to reassure investors on Monday with the Australian sharemarket following Wall Street’s poor lead to close below 6800 points.
Source: brisbanetimes - 🏆 13. / 67 Read more »

ASX drops to 12-month low as energy stocks run out of puffRobust retail sales data have failed to reassure investors on Monday with the Australian sharemarket following Wall Street’s poor lead to close below 6800 points.
Source: smh - 🏆 6. / 80 Read more »

AustralianSuper to Vote Against Brookfield and EIG's Takeover of Origin EnergyAustralianSuper, the nation's largest fund, plans to vote against Brookfield and EIG's proposed takeover of Origin Energy, signaling a desire for a higher bid price. The battle raises concerns about the privatization of important Australian companies.
Source: FinancialReview - 🏆 2. / 90 Read more »

National Farm Lobby Supports Opposition Leader in Fight Against Renewable Energy ProjectsThe powerful national farm lobby is siding with Opposition Leader Peter Dutton as he backs locals fighting renewable energy projects crucial to the Albanese government’s clean energy election commitments.
Source: smh - 🏆 6. / 80 Read more »